NEW YORK, NY — (May 4, 2021) INTERMIX, one of the leading omni-channel shopping destinations in the luxury fashion market, will be under new ownership. The company announced Tuesday that Altamont Capital Partners, a private equity firm with more than $2.5B in capital and over 20 investments, has entered an agreement to purchase the business from Gap Inc.
INTERMIX has a unique position in the market, with 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 like Isabel Marant, Ulla Johnson, Christopher Esber, Alanuii, AGOLDE, Acne, Nanushka and more. With a third of its assortment exclusive to the brand, INTERMIX 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 fashion fun, easy and effortlessly chic.
“This is an exciting next step in our journey at INTERMIX to be the leading omni-channel boutique fashion business for women seeking a highly curated and personalized shopping experience,” said Jyothi Rao, CEO of INTERMIX. “Altamont shares our vision for accelerated growth, best-in-class customer experience and an entrepreneurial team culture. We are entering this partnership with great momentum, and with the investment from Altamont Capital Partners, INTERMIX will be poised to shape the future of multi-brand retail.”
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.
“This partnership creates opportunities for INTERMIX to execute against a long-term plan for sustained success and growth,” said Altamont Capital Partners Managing Director Keoni Schwartz. “As events and social gatherings become more frequent, INTERMIX is well-positioned to re-emerge as a leading omni-channel fashion retailer and continue to improve its offering and service for its exceptional customer base. We look forward to applying our considerable experience with other carve-outs to support the management team and are excited to be investing in INTERMIX as they continue to build a compelling, independent omnichannel retailer delivering a best-in-class customer experience.”
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.