Gap Inc. acquires artificial intelligence startup CB4

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Marketing Dive says that as part of ongoing tech efforts, Gap Inc. has just announced that it acquired Context-Based 4 Casting for an undisclosed amount. CB4 is a retail technology startup that uses artificial intelligence and machine learning to boost sales and enhance the customer experience.

The Strategic Growth Office within Gap Inc. brokered the deal. As part of the agreement, CB4's employees will join Gap Inc.'s workforce full time, as per the announcement. CB4's technology had been implemented by retailers such as Levi's, Urban Outfitters and Lidl.

Gap Inc. has had a hand in financing or acquiring other retail technology companies recently. In August, the retailer acquired Drapr, an e-commerce tech company that provides 3D virtual try-on tools. Over the summer, the company also participated in a funding round for Obé Fitness, a home fitness platform. Sally Gilligan, chief growth transformation officer and head of the Strategic Growth Office at Gap Inc., said this in a statement:

"We believe artificial intelligence and machine learning will shape the future of our industry. Gap Inc. has experience working with CB4's world-class data scientists, so we understand the impact and the wide applications their science can have across sales, inventory and consumer insights, as well as its potential to unlock value and enhance the customer experience."
But as the brand buys and invests in technology companies, it also has been shedding other brands. The company this year sold off Janie and Jack to brand investment platform Go Global Retail only two years after its acquisition. In May, the retailer announced that it was selling Intermix to private equity firm Altamont Capital Partners.
#acquires #artificial #cb4 #gap #intelligence #startup
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  • Profile picture of the author Gaylenaramo
    I feel that it is a very good idea to include AI in sales nowadays. There is so much information nowadays to analyze that a human being will definetely fail to do it fast and efficiently at the same time. I like this company very much. Probably because of the fact that I know the history of its development which started not so long ago. It is great to observe the company to grow into huge enterprise from little stores located in the American shopping centers.
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