Fashion retailer Gap Inc. (GPS) is said to buy luxury retailer Intermix Inc. for $130 million, according to The Wall Street Journal. The acquisition is the first in half a decade for Gap, which is coming off a string of rare fashion successes that increased prior year's sales and stock price.
Intermix doesn't produce its own clothes and has only about 30 stores in the U.S. and Canada, while the chain has relationships with designers, like Herve Leger, Yves Saint Laurent and Rag & Bone, from which Gap could benefit, reports added. Also, Intermix could expand quickly with the help of Gap's bigger balance sheet.
Moreover, Gap may double Intermix's store count, and later look for opportunities to expand the chain overseas.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.