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.
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.