Gap Inc. announced yesterday (Monday) it is buying
Athleta Inc., a women’s sports and active apparel company, for about
$150 million in cash, as part of its strategy to diversity its brand
offerings according to the Houston Chronicle. The deal is expected to close within the next few weeks, Gap officials said.
which sells its merchandise primarily online and through its catalog,
will enhance Gap’s presence in the growing $31 billion women’s active
apparel sector in the U.S.
Following the purchase, Athleta
is expected to eventually become the fifth brand in Gap’s online
portfolio, which includes its namesake brand, Old Navy, Banana Republic
and online shoe retailer Piperlime.
10 years ago, Petaluma, Calif.-based Athleta caters to the 25-to-55 age
group and offers clothes for yoga, running, skiing, snowboarding and
Source: Houston ChronicleSee the Top Ten Summer 2016 Trends for Women Over 40