Gap to sell children’s apparel brand Janie and Jack
San Francisco-based fashion group Gap Inc. is selling premium kidswear label Janie and Jack to brand investment platform Go Global Retail, with the transaction expected to close on April 2, 2021.
Go Global announced the acquisition deal on Thursday, revealing that its plans for the brand include expanding its digital capabilities and accelerating its online growth globally. According to the investment fund, the transaction, which will see the children’s fashion label become a freestanding, independent brand, will also open new markets for Janie and Jack in the UK, Europe and Asia.
“Our team of experienced retail and brand practitioners will complement the existing dynamic management team in areas of digital strategy, international business development, supply chain and global operations. Growth is our ultimate goal,” said Go Global managing director Christian Feuer in a release.
Go Global’s investment partners for the transaction include New York’s Axar Capital Management; Bethesda, Maryland-based MidCap Financial; Dallas, Texas-based FB Flurry; and Shanghai’s Ven Bridge, Ltd. The value of the transaction has not been disclosed.
Founded in 2002, Janie and Jack was acquired by Gap in March 2019. The brand currently has 115 retail stores in the U.S., as well as a dedicated e-commerce platform. Following its acquisition by Go Global, the label will continue to be based in San Francisco.
“This is an exciting opportunity for Janie and Jack, and we are incredibly pleased that our brand will continue to build lasting connections with customers as part of the Go Global family,” commented Shelly Walsh, general manager of Janie and Jack.
“We are thrilled to work with this team of experienced retail professionals who are as passionate about growing our strong, stand-alone brand as we are. I believe we'll build a bright future together,” she concluded.
Copyright © 2021 FashionNetwork.com All rights reserved.