Janie and Jack will soon be under new ownership.
Go Global Retail has inked an agreement to acquire the children’s brand from Gap Inc. for an undisclosed purchase price in a deal set to close by April 2.
“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,” said Shelly Walsh, general manager of Janie and Jack. “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 brand investment platform’s “experienced” team will augment the children’s wear label’s “existing dynamic management,” especially as it relates to digital strategy, international business development, supply chain and global operations, said Christian Feuer, managing director of Go Global. “Growth is our ultimate goal,” he added.
Once the deal goes through, Janie and Jack will continue to operate out of San Francisco, Go Global said on Thursday, noting plans to invest in the brand’s digital capabilities through artificial intelligence and predictive analytics. Investment partners for this acquisition include New York-bases Axar Capital Management, MidCap Financial, and two strategic investors, Dallas, Tex.-based FB Flurry, and Shanghai-based Ven Bridge Ltd., it added.
As it does for most of the labels in its portfolio, Go Global aims to grow Janie and Jack’s international presence, with an eye to expansion in the U.K., Europe and Asia, said Jeff Streader, who founded the brand investment platform and also is a managing partner.
Founded in 2002, Janie and Jack was under the umbrella of children’s wear retailer Gymboree, which collapsed into bankruptcy proceedings and sold the kids’ brand’s assets to Gap Inc. for $35 million in 2019. As the San Francisco apparel giant revisits its operations and strategy, it has taken steps to refocus on its core brands, and is looking at selling its China business.
Go Global got into the brand management game when it acquired ModCloth from Walmart in 2019, supercharging the modern vintage women’s wear label’s digital capabilities and establishing that as the template for growing new portfolio additions.