San Francisco — Gap Inc. has entered into an agreement to sell Janie and Jack, a leader in premium children’s fashion with about 115 stores, to Go Global Retail, an investment platform in the fashion and consumer brand sector. Go Global Retail intends to acquire the entire Janie and Jack business, including the e-commerce platform, all store leases and assets.
“We are thrilled to acquire an incredible brand like Janie and Jack from the Gap. Our plan is to expand the company’s digital capabilities and accelerate online growth globally,” says Jeff Streader, founder and managing partner of Go Global. Go Global’s international reach will open new markets for Janie and Jack in the UK, Europe and Asia.
Since its founding in 2002, Janie and Jack has built a modern classic iconic brand that creates lasting memories for its customers. With a focus on elevated design and details, the brand offers sizes from newborn through tween.
Christian Feuer, managing director of Go Global adds: “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.”
Janie and Jack will continue to be based in San Francisco. Go Global will invest in Janie and Jack’s digital capabilities including artificial intelligence and predictive analytics. As a freestanding, independent fashion brand, Janie and Jack will focus on its core customers.
Gap Inc. acquired Janie and Jack in March 2019. The Go Global transaction is expected to close on April 2, 2021.
“As part of Gap Inc.’s Power Plan 2023, and exemplified by this transaction, we are prioritizing strategic focus and resources behind the growth and potential of our billion-dollar brands in Old Navy, Gap, Banana Republic and Athleta,” says Sally Gilligan, head of strategy for Gap Inc.
BofA Securities, Inc. acted as exclusive financial advisor to Gap Inc. on the transaction. Terms of the agreement were not disclosed.
Go Global’s investment partners in this acquisition include New York based Axar Capital Management, MidCap Financial of Bethesda, Md., as well as strategic investors FB Flurry, based in Dallas, and Shanghai-based Ven Bridge, Ltd.
SOURCE: Gap Inc. / PR Newswire