- The Children's Place announces its plans to relaunch the Gymboree clothing brand for kids.
- The Children's Place had acquired rights associated with both Gymboree and its Crazy 8 brand earlier this year.
- Gymboree filed for bankruptcy protection in January.
The Gymboree clothing brand for boys and girls will be back online and in some stores next year, thanks to The Children's Place.
The Children's Place had paid $76 million for the rights associated with both Gymboree and its Crazy 8 brand earlier this year, after Gymboree filed for bankruptcy protection back in January. At the time, Gymboree had 800 locations, all of which shuttered. It marked the second time Gymboree had gone bankrupt in under two years.
On Tuesday morning, The Children's Place announced in a press release it will relaunch Gymboree.com in 2020 and add Gymboree shops inside 200 of its stores across the U.S. and Canada.
"The goal is to provide a Gymboree brand experience that reconnects mom to the branded product that she loves," Claudia Lima-Guinehut, senior vice president of global merchandising for The Children's Place, said in a statement.
The Children's Place said it will launch a new loyalty program for Gymboree customers as well, and that shoppers will be able to order from both Gymboree.com and TheChildrensPlace.com using a shared shopping cart.
Target had been gaining market share with its private labels, while Gap was also winning more parents, having acquired the rights to Janie & Jack, which sells kids clothing a bit more on the pricier side.
Shares of The Children's Place have fallen more than 16% this year. The company has a market cap of about $1.2 billion.