Gap Inc. purchased Janie and Jack from Gymboree Group for $35 million, a news release announced. It follows the January announcement that Gymboree filed for bankruptcy and closed all of its stores. This move now saves the high-end children’s apparel brand and its 100 stores nationwide from shutting down.
“We are so excited and grateful that Gap Inc. has invited us to join their family,” an announcement on the Janie and Jack website reads. “We are committed to getting back to the quality and service you deserve. We appreciate your patience as we work through this transition.”
If you have a Janie and Jack gift card and can’t wait to splurge on your kid’s wardrobe, hang tight for now. Gift cards, merchandise credit and returns are still temporarily unavailable at the time of this report, but the company plans to return to normal policies soon, according to the website’s FAQ section.
It may not be the only Gymboree Group brand to be given a second life. According to a USA Today article, Gymboree Group has plans to sell the rights to Gymboree and Crazy 8 to The Children’s Place.
Nothing like a comeback!