GAP INC. PURCHASES INTERMIX FOR $130 MILLION

We told y’all last month to expect a union between Gap and Intermix.

Well now the merger is official, Gap has acquired the luxury retailer, Intermix for $130 million.  CEO of Intermix, Khajak Keledjian says the merger,

will enable us to have more time to focus on growth. One reason for our success is [being] an incubator for new designers and new talent. [Partnering with Gap] will let us focus more on product, merchandising and innovation.”

So what if any changes can we expect?  Perhaps a price point decrease from Intermix???  Doubtful, but we can still hope!

Source: WWD