The transaction was completed on March 4, 2019, with Gap Inc. purchasing Janie and Jack for approximately $35 million with an additional agreement to purchase the Janie and Jack inventory at cost plus additional fees and expenses.
"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,” said Art Peck, president and CEO of Gap Inc. “Janie and Jack has a strong and loyal customer following that complements our existing brands, with a clear path for growth ahead.”
“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 Inc. family,” said Shelly Walsh, general manager of Janie and Jack. “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.” (RR)
Fibre2Fashion News Desk – India
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