As part of the deal, Go Global will invest in ModCloth's digital portfolio including additional resources for artificial intelligence and predictive analytics. Go Global's agreement will also see ModCloth remain independently operated. The autonomous fashion brand will remain focused on its core customers and continue to offer a full range of sizes.
"We believe that together with current management, ModCloth has the ability to become a stronger player in the premium fashion market, nationally as well as internationally," says Jeff Streader, managing director, Go Global.
Founded in 2002, ModCloth concentrates on indie and vintage-inspired women's clothing, shoes, handbags and accessories for women 18-35 years old. Walmart
acquired the assets and operations
of the company in 2017.
"We believe that ModCloth's strong brand equity positions it for growth in the future," says Ashley
Go Global's purchase of Modcloth is expected to close before the end of the year.
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.