US clothing and accessories retailer Gap has completed the acquisition of premium children’s fashion brand Janie and Jack from Gymboree Group for approximately $35m.
Janie and Jack currently operates more than 100 retail stores in the US, as well as an online apparel platform.
Janie and Jack general manager Shelly Walsh said: “This is an exciting outcome for Janie and Jack, and we are incredibly pleased that our brand will continue to serve our customers with its unique modern classic aesthetic as part of The Gap family.
“We are thrilled to be joining another San Francisco Bay Area retailer who shares our passion for creating and providing high-quality clothing and delivering exceptional customer experiences.
“I want to thank all of our Janie and Jack employees for their hard work and dedication to building a strong brand with a bright future.”
Under the terms of the deal, Gap also signed an additional agreement to purchase the inventory of Janie and Jack, and will continue to operate Janie and Jack as a standalone brand in San Francisco.
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Gap president and CEO Art Peck said: “I am pleased to welcome Janie and Jack to the Gap Inc. family and to expand our portfolio into the premium kids and baby business.
“Janie and Jack has a strong and loyal customer following that complements our existing brands, with a clear path for growth ahead.”