Home / Knowledge / News / Apparel/Garments / Fashion etailer Modnique launches kids line
Fashion etailer Modnique launches kids line
02
Jul '13
Modnique, Inc., a global fashion e-commerce retailer, announced it has signed a definitive asset purchase agreement with TOTSY, Inc., a New York, NY based private-sale site exclusively dedicated to delivering deals on must-haves for parents, babies and kids. Terms of the deal are undisclosed.

“This acquisition is a strategic move to secure our position as a dominant international fashion destination. We've got the right team in place to execute.”

This strategic growth pillar marks Modnique's entry into the kids off-price market, extending the company's lifestyle business beyond women's and men's apparel, shoes, handbags, accessories, fine jewelry, and beauty.

The deal solidifies Modnique's position as a global e-commerce retailer. "Modnique's mission is to offer worldwide customers access to international designers and U.S. brands at great prices," stated Modnique co-founder and CEO, Einaras von Gravrock.

"This acquisition allows us to offer more brand partners international distribution and it gives our customers access to great kids brands. We're excited to be the only fashion destination to offer shoppers the best international and U.S. women's, men's, and kids brands in one place."

Modnique will migrate the TOTSY business to its own technology, logistics, and buying platforms. "Modnique is uniquely positioned to mitigate the challenges the company faced in the past, and we are well-suited to leverage these assets to continue global expansion as a lifestyle e-commerce retailer," said von Gravrock. He added that "This acquisition is a strategic move to secure our position as a dominant international fashion destination. We've got the right team in place to execute."

Upon completion of this asset acquisition, Modnique will donate the roughly $2 million of TOTSY inventory to K.I.D.S. (Kids In Distressed Situations), a global children's charity dedicated to making a difference in the lives of millions of needy children. K.I.D.S. provides new clothes, shoes, toys, baby items and books to families all over the world.

Modnique headquarters will remain in Redondo Beach, Calif. The company currently has offices in the United States, Europe, and Latin America.

About Modnique

Modnique is a global fashion e-commerce company headquartered in Redondo Beach, Calif. Founded in 2010, Modnique runs boutique events for apparel, jewelry, shoes, handbags, watches, accessories, kids and beauty. New merchandise arrives daily and is featured in 36-72 hour events. Curated shops house inventory without an expiration date. Events and shops are sourced for the chic, international consumer and feature brand name items to suit any style or occasion. The company specializes in sourcing and shipping brands from around the world. The majority of sales come from outside the U.S.

Modnique

Must ReadView All

Textiles | On 27th Feb 2017

Surat to get a mega textile park, centre of excellence

The textiles ministry is positively working on the proposals for a...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: Invista

Textiles | On 27th Feb 2017

Invista explores alternatives for apparel & textile trade

Invista, one of the world's largest integrated producers of chemical...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search