Gap Inc. is continuing its focus on technology investments.
The specialty retailer has acquired Context-Based 4 Casting Ltd. (CB4), a New York- and Tel Aviv-based retail artificial intelligence and machine learning platform. The start-up provides technology that is intended to increase sales and improve customer experience through predictive analytics and demand sensing.
As part of the acquisition, CB4’s team will join Gap Inc. as full-time employees. The deal was brokered by Gap strategic growth office, which seeks out opportunities to fuel growth and accelerate new capabilities across its portfolio of brands.Chain Store Age