As part of a three-year strategic plan to focus its four largest brands — Old Navy, Gap, Banana Republic and Athleta — Gap Inc. said it will sell its children’s business to investment firm Go Global Retail on Thursday.
Gap bought Janie and Jack in 2019 for $35 million from Gymboree Group Inc. It has a web business and counts 115 stores in the US. Terms of the deal were not disclosed.
In March, Gap Inc said it was reviewing Intermix, a multi-brand retailer and contemporary fashion, and recorded a $56 million impairment chart for the business. Last year, Gap Inc shut down another smaller sub-label, the men’s athletic brand Hill City. The company also said it is reviewing its European business, which represents 2 percent of total sales.