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.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.