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Gap Buys Luxury Retailer, Plans International Growth

In a bold move, Gap Inc. is buying a 40 percent stake in luxury apparel retailer Intermix for $130 million, according to The Wall Street Journal. Intermix operates about 30 stores in U.S. and Canada and has established relationships with high-end fashion designers, including Herve Leger and Yves Saint Laurent.

According to comments made by Gap executives, the plan is to double Intermix' store count in North America and then look for opportunities for expansion in Europe and Asia.

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