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Pic: Gap Inc American worldwide clothing and accessories retailer Gap Inc has entered into an agreement to sell Intermix, a leading omni-channel fashion boutique for customers seeking a highly curated shopping experience. Private equity firm Altamont Capital Partners intends to acquire the entire Intermix business, including all store leases, e-commerce and assets.
Gap Inc. acquired Intermix in 2012 and today the brand has 31 store locations in the United States and an e-commerce business.
This transaction is another milestone as Gap Inc continues to execute against its Power Plan 2023, with acute focus on growing its purpose-led, billion-dollar lifestyle brands by leveraging the power of its portfolio and its platform, the company said in a statement. In April, Gap Inc completed a transaction to sell Janie and Jack, a leader in premium children’s apparel and accessories, to Go Global Retail.
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Altamont Capital Partners has agreed to carve out Gap’s luxury fashion boutique business Intermix as it eyes a resurgence in social events as Covid-19 eases.
Intermix opened its first boutique on New York’s lower Fifth Avenue in 1993, and was bought by retail clothing giant Gap in 2012. It currently has 31 boutiques and an online store.
Altamont described Intermix as an enviable platform with strong brand identity, an innovative business model, and highly attractive customer base. The brand includes offerings from designers including Isabel Marant, Ulla Johnson, Christopher Esber and Alanuii.
Altamont is optimistic that the retail market will pick up after the pandemic for Intermix to attain a long-term growth. The US consumer confidence index climbed to 121.7 in April, the highest level since February 2020.
Intermix on Tuesday said that Altamont Capital Partners, a private equity firm with more than $2.5B in capital and over 20 investments, has entered an agreement to purchase the business from Gap Inc.
Gap Inc Sells Intermix to Private Equity Firm businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
Austin 360
Alamo Drafthouse announced Thursday that its two Austin-area theaters to remain closed since March 2020 will soon reopen.
The Austin-based cinema chain s Mueller location at 1911 Aldrich St. will reopen on May 28. Its Village location at 2700 W. Anderson Lane is slated to reopen in July, but the company did not announce an exact date.
Alamo Drafthouse s nationwide announcement said that we’re entering a busy, busy, busy summer of reopenings. At least fifteen of our theaters will be brought back online this summer, roughly (re)doubling our footprint to over thirty theaters across the country.
The South Lamar, Lakeline and Slaughter Lane locations reopened last year. In early March, Alamo Drafthouse announced that its downtown Ritz location was shuttered for good.