The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Wal-Mart says it bought trendy online clothing seller ModCloth.
The company declined to specify the price on the deal that closed Friday, saying only that it was in the same range as its previous two purchases of online businesses. Those were $51 million and $70 million.
Wal-Mart has been making a big push to pick up smaller online brands as it tries to make headway against Amazon. It spent more than $3 billion for upstart Jet.com last year. Since that time it has purchased other smaller companies, including online footwear retailer ShoeBuy.com and the outdoor gear seller Moosejaw.
But winning over ModCloth's customers, who are fans of its vintage-inspired patterned dresses and inclusive sizing, may be a challenge. Many devoted shoppers have expressed sharp disappointment on social media.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.