Dive Summary:

• Gap is set to purchase  Intermix for $130 million dollars leading the way for the brand to incorporate a line of high-end luxury clothing.
• The new acquisition, which doesn't produce its own clothing, will create new relations for Gap with major designers such as Herve Leger, Yves Saint Laurent and Rag & Bone.
• With sales increasing for other Gap brands such Piper line and Athleta, the company is hoping that the integration of Intermix within the brand will keep Gap fashion-forward and competitive with rival retailers such as H&M.

From the article:

"...The acquisition is the first in half a decade for Gap, which is coming off a string of rare fashion successes that boosted its sales and stock price last year.

Intermix doesn't produce its own clothes and only has around 30 stores in the U.S. and Canada. But the chain has relationships with designers, including Herve Leger, Yves Saint Laurent and Rag & Bone, from which Gap could benefit. Intermix could also expand more quickly with the help of Gap's bigger balance sheet..."