Apparently no longer content with just offering thick sweatshirts and jeans, Gap purchased luxury fashion brand Intermix for a cool $130 million. This means that Gap is going to become a player in the luxury fashion market, which should help make the brand become a bit more experimental in its own offerings.

For weeks, people have been speculating, dissecting, and hypothesizing about the potential sale of Intermix to Gap. Well folks, it happened. Gap has purchased Intermix for $130 million and entered the luxury fashion world.

The deal should be mutually beneficial for both parties. Gap can raise the profile of Intermix and already has big plans to up Intermix’s online presence. Intermix brings the Gap family into the world of fashion that goes beyond affordable basics. Read More