Go Global Plans To Buy Janie And Jack From Gap, Will Focus On Digital Growth

Go Global Retail plans to purchase Janie and Jack from Gap Inc. and bolster the children’s fashion brand’s digital features, according to an announcement on Thursday (March 25).

“Our plan is to expand the company’s digital capabilities and accelerate online growth globally,” Go Global Founder and Managing Partner Jeff Streader said in the announcement. To that end, Go Global will invest in the brand’s digital functions, such as predictive insights and artificial intelligence (AI).

Janie and Jack will still be headquartered in San Francisco. The company, which was established in 2002, provides sizes ranging between newborn and tween. Gap Inc. bought the brand in March 2019. The Go Global deal is anticipated to close on April 2, 2021.

Go Global’s investment partners in the deal include MidCap Financial of Maryland and New York-based Axar Capital Management, in addition to Shanghai-based Ven Bridge, Ltd. and Dallas, Texas-based FB Flurry.

“Our team of experienced retail and brand practitioners will complement the existing dynamic management team in areas of digital strategy, international business development, supply chain and global operations. Growth is our ultimate goal,” Go Global Managing Director Christian Feuer said in the announcement.

The news comes as Gap Inc. reported as part of its fourth-quarter and fiscal year 2020 results that its online sales surged by 49 percent. Online accounted for 46 percent of net sales in the fourth quarter. All in, Gap posted diluted earnings per share of 61 cents for the fourth quarter of the fiscal year 2020 on $4.4 billion in net sales.

Beyond Janie and Jack, Gap Inc.’s collection of brands includes Athleta, Gap, Intermix, Banana Republic and Old Navy.

“Our powerful brands moved to offense with purpose-led marketing and strength in relevant categories, like Active and Fleece, allowing us to gain meaningful market share quarter-over-quarter in a fragmented environment,” Gap Inc. Chief Executive Officer Sonia Syngal said in a press release that reported the company’s earnings.