Gap is to sell its children’s fashion label Janie and Jack to Go Global Retail next month.
“Our plan is to expand the company’s digital capabilities and accelerate online growth globally,” said Jeff Streader, founder and managing partner of Go Global.
Under Go Global’s management, Janie and Jack will enter new markets, including in Asia, the UK and Europe, while retaining its base in San Francisco. Go Global will also invest in digital capabilities including artificial intelligence and predictive analytics.
“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,” said Christian Feuer, MD at Go Global.
Go Global’s investment partners in this acquisition include Axar Capital Management and MidCap Financial of Bethesda, Maryland. The acquisition deal is expected to close on April 2.
Founded in 2002, Jenie and Jack operates more than 115 retail stores across the US. The brand was acquired by Gap in 2019.