On January 3rd, American apparel company Gap announced the acquisition of Intermix, a select shop operator. The acquisition price was approximately $13 billion (approximately 11.5 billion yen), and the transaction was completed on December 31st, 2012.
Intermix is based in New York and operates 32 stores and an online store in North America. It carries products from a variety of luxury women's brands, including Yves Saint Laurent, Azzedine Alaïa, and Chloé.
Gap Chairman and CEO Glenn Murphy commented, "Intermix has established a competitive position in a growing market." Intermix co-founder Khajak Keledjian said, "We are pleased to have a reliable partner like Gap, with its global infrastructure, to realize our growth strategy. We look forward to shaping the future of retail together by proposing exciting fashion trends with the world's best designers."

Keldjian will continue to serve as Intermix's Chief Creative Officer, and will lead Intermix's operations from New York, alongside President Adrienne Lazarus.

Gap operates 3,000 company-operated stores and over 300 franchise stores in 90 countries around the world. In addition to the Gap brand, Gap also owns Banana Republic, Old Navy, and the brands Piperlime and Athleta, which it acquired in 2008. The sportswear brand Athleta in particular has grown rapidly, opening 35 stores in the past two years.

Also on the same day, Gap announced its same-store sales for December 2012. Sales were $2.08 billion, a 5% increase over the same period last year.