Gap is to sell its premium childrenswear label Janie and Jack to Go Global Retail, two years after buying it.
Founded in 2002, San Francisco-based Janie and Jack sells apparel, footwear, and accessories from newborn to size 16. The company has 115 retail stores in the US as well as a webstore. It was acquired by Gap back in March 2019.
Go Global now plans to expand the brand to new markets in the UK, Europe and Asia, as well as invest in the company’s digital capabilities including artificial intelligence and predictive analytics.
“We are thrilled to acquire an incredible brand like Janie and Jack from the Gap,” said Jeff Streader, founder and managing partner of Go Global, in a release. “Our plan is to expand the company’s digital capabilities and accelerate online growth globally.”
Go Global’s investment partners in the acquisition include New York-based Axar Capital Management, MidCap Financial of Bethesda, Maryland, as well as Strategic investors FB Flurry, based in Dallas, Texas and Shanghai-based Ven Bridge, Ltd.
Shelly Walsh, general manager of Janie and Jack, said: “This is an exciting opportunity for Janie and Jack, and we are incredibly pleased that our brand will continue to build lasting connections with customers as part of the Go Global family.
“We are thrilled to work with this team of experienced retail professionals who are as passionate about growing our strong, stand-alone brand as we are. I believe we’ll build a bright future together.”
The Go Global transaction is expected to close April 2, 2021.
Image: Janie and Jack, Facebook