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 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search