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.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.