To grow its e-commerce business, Aeropostale Inc. announced Wednesday it has acquired online retailer Gojane.com.
Based in Ontario, Calif., GoJane focuses primarily on women’s fashion footwear, with a select offering of contemporary apparel and other accessories, and aims to introduce new styles on its website on a daily basis.
Founded in 1998, the firm generated about $19 million in sales in 2011. The terms of the deal were not disclosed.
Tony Pang, co-founder of GoJane, said in a statement that through the deal both firms will share customer bases, and his company now can leverage “Aeropostale’s best-in-class infrastructure to develop and grow the GoJane business.”
Thomas Johnson, CEO of New York-based Aeropostale, said in a statement, “Our strategic acquisition of GoJane … complements our fast-growing e-commerce business as we expand into new product categories and offerings. We have been impressed with the development of the GoJane brand, and the entrepreneurial spirit and talent of the senior management team. We expect a seamless transition of this new business from a strategic, operational and cultural perspective.”
Aeropostale’s shares rose as much as 8.8 percent to $14.21 Wednesday morning on the announcement of the acquisition.