Gap finalizes acquisition of CB4
In October 2021, Gap finalized the acquisition of Context-Based 4 Casting Ltd. (CB4). CB4 is based in New York and Tel Aviv and utilizes cutting-edge artificial intelligence and machine learning to improve customer experience, increase sales and improve retail operations. CB4 technology has been implemented in other retail operations such as Urban Outfitters and Levi’s. Gap already has experience working with CB4’s data scientists to understand the impact that artificial intelligence and predictive analysis can have across consumer insights, sales and inventory. The acquisition was spearheaded by Gap’s Strategic Growth Office, a unit of the company that’s job is to find new opportunities for growth.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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