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Gap to purchase luxury retailer Intermix

Screen Shot 2013-01-04 at 9.14.24 AMLooks like Gap Inc. is entering the luxury market! The clothing retailer, which owns Gap, Banana Republic, Old Navy, Piperlime and Athleta is purchasing multi-brand retailer Intermix Inc. for $130 million.

Intermix doesn’t produce its own clothes and has 32 boutiques across the U.S. and Canada. But the chain has relationships with designers, including Herve Leger, Fendi, Yves Saint Laurent,