The group is looking to sell the children’s wear brand that it acquired two years ago to an investment platform.
Janie and Jack, which operates over 115 stores in the US, is expected to be sold to investment platform, Go Global Retail. The transaction includes store leases, assets and the brand’s e-commerce platform.
Sally Gilligan, Head of Strategy, Gap Inc., commented: “As part of Gap Inc.’s Power Plan 2023, and exemplified by this transaction, we are prioritising strategic focus and resources behind the growth and potential of our billion-dollar brands in Old Navy, Gap, Banana Republic and Athleta.”
The brand will continue to be based in San Francisco and Go Global Retail have confirmed that they will invest in Janie and Jack’s digital capabilities, including both artificial intelligence and predictive analytics. The group hopes that the brand will expand into a number of international marks including the UK, Europe and Asia.
