Gap Inc. Sells Off Janie And Jack After 2 Years

Gap Inc. continues to unwind some of the initiatives taken by former CEO Art Peck before his departure over a year ago, this time selling Janie and Jack to brand investment platform Go Global Retail for an undisclosed amount. Go Global will take over the children’s brand’s e-commerce and more than 115 U.S. stores, according to a press release. The sale to Go Global and investment partners Axar Capital Management, MidCap Financial, FB Flurry and Ven Bridge, Ltd. is expected to close April 2. Gap Inc. bought the two decade-old brand, which offers sizes from newborn through tween, in 2019 for $35 million during parent company Gymboree’s bankruptcy. Janie and Jack will continue to be based in San Francisco, Go Global said. Read more at Retail Dive.