Nogin, a market leader in outsourced e-commerce for major fashion and consumer product companies, has acquired the assets of ModCloth, a digitally native retailer of women’s fashion and accessories. The Tustin-based company purchased the brand for an undisclosed sum from Go Global Retail.
Initially founded as Branded Online, Nogin has provided Intelligent Commerce Solutions to major brands such as Honeywell, Hurley, Bebe, Lululemon, True Religion, Yeezy and, recently, Charming Charlie.
“We have a huge advantage of being able to get brands to be world class and profitable within 90 days of putting them on our platform. It’s what we have always done. Investing where we see great potential is a natural extension,” said Nogin CEO Jan-Christopher Nugent in a statement. “We are thrilled to free up ModCloth to focus on delivering great products and stories to the brand’s community of passionate consumers, while staying true to its core values that champion female empowerment and inclusivity.”
“ModCloth is an amazing brand poised for growth,” said Jeff Streader, managing partner with Go Global Retail, in a statement. “We feel very good about the progress at ModCloth since our January 2020 acquisition of the brand from Walmart and are excited to see its momentum continue with Nogin.”
Nogin plans to reinvigorate the brand’s e-commerce operations using its proprietary suite of Intelligent Commerce Solutions. The company’s comprehensive platform allows brands to leverage advanced data analytics to grow their brand and sales. In addition to managing the entire digital operation, the company offers its partners a suite of services that includes brand strategy, creative services, development, logistics, and performance marketing.
“We are truly excited to bring ModCloth into our fold,” added Nogin President and CTO Geoffrey Van Haeren in a statement. “The shift to online is massive and we love delivering our Intelligent Commerce and innovations to brands that are not equipped for the unique demands of e-commerce. To date, this strategy has driven consistent exponential results.”
The company has retained approximately 55 ModCloth employees and kept the leadership constant, with CMO Mary Jimenez named CEO. She will be joined by members of the brand’s buying/brand/design/merchandising, logistics, tech/development/IT, accounting, and HR teams who will be based in Nogin’s Tustin headquarters, as well as customer service representatives in ModCloth’s Pittsburgh, Pennsylvania call center. Tiger Finance provided acquisition financing, and Tiger Valuation Services is providing inventory analytics support.