Children's Place to buy Gymboree brand, while Gap snags Janie and Jack chain

div > div.group > p:first-child"> Children's Place will pay $76 million for the rights associated with both Gymboree and its Crazy 8 brand, and it will take over a contract with Singapore-based Zeavion Holding. In 2016, Zeavion acquired the retailer's Gymboree Play & Music business, which operates independently.

Meanwhile, Gap, which announced on Thursday plans to split into two separate companies, said it will buy Janie and Jack's intellectual property, its website, customer data and other assets for $35 million. In a separate deal, it also plans to buy the chain's inventory from a liquidation company.Gymboree filed for bankruptcy protection in January, and said it would close 800 Gymboree and Crazy 8 stores. It was its second bankruptcy in less than two years.

Bad move

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Children’s Place and Gap Winners of Gymboree AuctionChildren’s Place is buying the brand name of children’s clothing retailer Gymboree Group, and Gap is purchasing the bankrupt retailer’s Janie and Jack chain following a bankruptcy court auction. GAP buying J&J...they’ll ruin it by trying to remove what the brand represents.
Source: WSJ - 🏆 98. / 63 Read more »