 In February 2017, Carter's, Inc. acquired Skip Hop Inc., an infant and child product company based in New York, for $140 million in cash and up to $10 million in future payments contingent on reaching certain financial goals in 2017.Fireman Capital Partners, a private equity firm, had previously acquired a majority equity stake in Skip Hop Inc. for $50 million in November 2013.In addition to selling its apparel through third-party retailers, Carter's operated 1,060 branded stores and outlets , with plans to open up to another 100 stores in "mid-tier" shopping malls in the following years.A market research firm found that "Ninety percent of millennial parents — and 80 percent of baby boomer grandparents — have shopped at Carter’s in the past year."