The Gap Buy Intermix!

It’s official! Gap Inc. has bought luxury retailer Intermix for $130 million. While you were trying to figure out which sparkly dress you were going to spill champagne on New Year’s Eve, Gap and Intermix were busy closing the lucrative deal. Co-founder and CEO of Intermix, Khajak Keledjian says the merge “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.” (WWD) (via fahionbombdaily)