Altamont acquires Intermix from Gap

Altamont Capital Partners has acquired Intermix, a women's fashion business, from Gap Inc.

Altamont Capital Partners has acquired Intermix, a women’s fashion business, from Gap Inc. No financial terms were disclosed.

PRESS RELEASE

NEW YORK, NY – Altamont Capital Partners (Altamont) today completed its acquisition of INTERMIX, one of the leading omni-channel shopping destinations in the luxury fashion market, from Gap Inc. The transaction encompasses the entire INTERMIX business, including all assets, stores, and e-commerce.

Having opened its first retail location in 1993, INTERMIX now has a national footprint of 31 boutiques and a rapidly growing e-commerce channel. The brand is known for curating and editing the most sought-after styles from a mix of designers and delivers a highly personalized shopping experience complimented by their personal stylists who are available online and in-store to work one-on-one with clients to create looks that make them feel confident.

“Today marks the beginning of a very exciting chapter for INTERMIX,” said Jyothi Rao, CEO of INTERMIX. “Altamont Capital Partners believes in our mission to be the leading omni-channel boutique fashion business for women seeking a highly curated and personalized shopping experience, and together we will work towards accelerated growth for our brand.”

Altamont Capital Partner’s approach is to invest in companies with strong business models that have opportunities for tremendous growth. INTERMIX is an enviable platform with strong brand identity, an innovative business model, and highly attractive customer base. Altamont Capital Partners brings considerable experience partnering with middle-market, omni-channel companies like INTERMIX, supporting management and providing resources to help them grow and succeed.

“INTERMIX’s long history of providing premium shopping experiences across channels has led to a loyal customer base and myriad opportunities for expansion within the multi-brand retail space,” said Altamont Capital Partners Managing Director Keoni Schwartz. “We are confident that Altamont’s extensive experience standing up similar businesses independent from prior ownership will drive value for INTERMIX customers and employees for years to come. As INTERMIX pursues promising opportunities coming out of the pandemic, we’re looking forward to building upon the company’s track record of success and supporting its long-term growth.”

About INTERMIX
INTERMIX is a highly curated, omni-channel women’s fashion business comprised of 31 boutiques with hyper-localized assortments and a rapidly growing e-commerce channel. The brand is known for curating the most sought-after styles from a compelling mix of both established and emerging designers. Founded in 1993, INTERMIX delivers a personalized shopping experience across both channels, with complimentary personal stylists on hand to work one-on-one with clients to create looks that make them feel confident and to make fashion fun and inspiring.

About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $2.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including consumer, restaurants & multi-unit, financial services, healthcare, industrials, and business services.