Gap plans to acquire Janie and Jack.
plans to acquire Gymboree's high-end kid's clothing brand Janie and Jack for $35 million, as it takesvalue-focused brand Old Navy to create two separate companies.
According to the document, filed in a US Bankruptcy Court in Richmond, Virginia, Gap plans to buy the brand's intellectual property, e-commerce site, customer data, and other assets for $35 million. The company is currently owned by Gymboree, a children's clothing company that filed for
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