Gap Inc. acquires AI startup CB4 to drive sales
Gap has acquired AI startup CB4 to improve retail operations through predictive analytics and demand sensing.
“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,” said Sally Gilligan, Chief Growth Transformation Officer, and head of the Strategic Growth Office at Gap Inc.
CB4’s technology makes recommendations that support new sales and has already been implemented by retailers including Levi’s, Urban Outfitters, Lidl, and Kum & Go.
As part of the acquisition, CB4’s team will join Gap Inc. as full-time employees. CB4 chief executive officer Yoni Benshaul commented, “CB4’s AI helps lift sales and enhance customer experiences. As we join Gap Inc., I’m excited to see how our team can drive even broader and deeper impact at the company’s global scale.”
Since moving to the cloud in October 2020, Gap Inc. has increased investments in technology to enable growth and innovation that can impact its entire portfolio of brands.