Home / Knowledge / News / Retail / Go Global Retail to acquire ModCloth

Go Global Retail to acquire ModCloth

10
Oct '19
Pic: Go Global Retail
Pic: Go Global Retail
Go Global Retail, a brand investment platform for strategic investors in the consumer sector, has announced plans to acquire assets of ModCloth, a digitally native retailer of unique women's fashion and accessories. Founded in 2002, ModCloth offers exclusive indie and vintage-inspired women's clothing, shoes, handbags and accessories for 18-35 year-old women.

Under Go Global, ModCloth will continue to operate out of its current operational set up. Go Global Retail will invest in ModCloth's digital capabilities including artificial intelligence and predictive analytics. As a freestanding, independent fashion brand, ModCloth will continue focusing on its core customers; championing values of female empowerment and inclusivity; and further serving their passionate buying community by celebrating their stories and offering a full range of sizes.

"We believe that together with current management, ModCloth has the ability to become a stronger player in the premium fashion market, nationally as well as internationally," said Go Global's Jeff Streader. "Our team of experienced retail and brand practitioners will supplement existing management in areas of digital strategy, supply chain and operations," added Christian Feuer of Go Global.

"We believe that ModCloth's strong brand equity positions it for growth in the future," said Ashley Hubka, senior vice president of corporate strategy, development and partnerships at Walmart. "We feel good about the progress at ModCloth and believe that Go Global's team and scale out strategy presents an attractive opportunity for the employees and customers of this beloved brand."

Walmart acquired the assets and operations of ModCloth in March 2017 for an undisclosed amount. The Go Global deal is expected to close later this year.

Fibre2Fashion News Desk (PC)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Oct 2020

Not much gain for Bangla RMG exporters from PRC decision

Despite China offering duty-free market access to 97 per cent of...

Pic: Shutterstock

Retail | On 21st Oct 2020

UK BEIS Committee seeks firms' replies on forced labour

The Business, Energy and Industrial Strategy (BEIS) Committee of the...

Pic: Shutterstock

Retail | On 21st Oct 2020

NRF, EuroCommerce to reinforce cooperation on data flow

How to legally transfer customer and employee data across the...

Interviews View All

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

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

Leave your Comments


October 2020

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


Advanced Search