Gap Adds Luxury Brands With Intermix Purchase
Luxury brands did well during the recession and midtier brands are looking to get a piece of the profitable high-end market. On Thursday Gap (GPS) announced that it bought privately held luxury retailer Intermix for $130 million in cash. Intermix has about 30 stores in the U.S. and Canada and sells such brand names as Herve Leger, Rag & Bone and Yves Saint Laurent. Gap shares were up 0.3% intraday Friday and have risen nearly 6% for the week. The
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