Gap expands its brand portfolio
Gap has acquired Janie and Jack, a children’s fashion line, to expand its brand portfolio.
Janie and Jack will continue to operate as a standalone brand based in San Francisco. The transaction was completed on March 4, with Gap 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. “Janie and Jack has a strong and loyal customer following that complements our existing brands, with a clear path for growth ahead.”