Walmart acquires ModCloth
March 23, 2017 - United States Of America
Walmart has acquired the assets and operations of ModCloth, one of the top online specialty retailers of women's fashion, shoes, handbags and accessories. ModCloth especially caters to 18-35-year-old women. The ModCloth team will continue to operate its site and store as a standalone and complementary brand to Walmart's other e-commerce sites.
Walmart says that the ModCloth team will bring their significant experience and unique talents to its US e-commerce efforts.
According to comScore, apparel and accessories are the number one category for digital commerce. With the acquisition, Walmart hopes to gain the experience of a well-recognised specialty apparel e-commerce brand that is trusted by millions of millennial women.
ModCloth's catalogue offers thousands of choices in clothing and accessories, including highly differentiated, exclusive styles and an extended range of sizes that appeal to a broad demographic of women. The compelling styling, branding and content currently available online, along with deep industry relationships and expertise, will help Walmart further enhance its overall customer experience, Walmart said in a release.
ModCloth CEO Matthew Kaness, his executive team, and ModCloth's 300-plus employees will continue to be based in San Francisco, Los Angeles and Pittsburgh.
As one of the top specialty fashion sites with a strong social media presence and highly engaged community, ModCloth also operates one physical store in Austin, Texas, where customers can schedule one-on-one styling appointments with stylists. (SV)