- Angela Gonzalez-Rodriguez |
“As we continue to grow our e-commerce presence, Walmart has acquired the assets and operations of ModCloth, one of the top online speciality retailers of unique women’s fashion and accessories,” announced the department store operator on its web on March,17.
Walmart has in fact acquired the assets and operations of online speciality fashion retailer ModCloth in a deal closed on March, 17.
According to Walmart’s statement, the ModCloth team will continue to operate its site and store as a standalone and complementary brand to our other e-commerce sites. 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, and will join Walmart’s U.S. e-commerce retail organisation.
“The ModCloth team will bring their significant experience and unique talents to our U.S. e-commerce efforts and will further strengthen the collective capabilities of the overall team,” added Walmart in a release.
On the other hand, designers that sell on ModCloth will now have the opportunity to reach out to more customers through Jet.com and other Walmart’s e-commerce sites.
Walmart is aiming thus at gaining market share in the apparel and accessories category, the top one for digital commerce, according to comScore. “We gain the experience of a well-recognized specialty apparel e-commerce brand that’s trusted by millions of millennial women,” affirmed Walmart.