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.
A little over a year after Walmart offloaded the retro-forward apparel retailer to brand investment company Go Global Retail, ModCloth is passing hands once again. Nogin, B2B a retail analytics firm that works with brands like Yeezy and Lululemon, has acquired ModCloth’s assets for an undisclosed amount, it announced Wednesday, May 5.
The tech company plans to revamp ModCloth’s e-commerce operations using its own “Intelligent Commerce Solutions” that analyse brand and sales data, the company said.
Nogin retained about 55 ModCloth employees and named former chief marketing officer Mary Jimenez as chief executive.
“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 ecommerce,” Nogin President and CTO Geoffrey Van Haeren said in a statement.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
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.