LOS ANGELES, Oct. 4, 2019 /PRNewswire/ -- Go Global
Retail today announced plans to acquire the assets of
ModCloth, a digitally native retailer of unique women's fashion and
accessories. Founded in 2002, ModCloth offers exclusive indie and
vintage-inspired women's clothing, shoes, handbags and accessories
for 18-35 year-old women.
Under Go Global, ModCloth will continue to operate out of its
current operational set up. Go Global Retail will invest in
ModCloth's digital capabilities including artificial intelligence
and predictive analytics. As a freestanding, independent fashion
brand, ModCloth will continue focusing on its core customers;
championing values of female empowerment and inclusivity; and
further serving their passionate buying community by celebrating
their stories and offering 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," stated Go Global's
Jeff Streader. "Our team of
experienced retail and brand practitioners will supplement existing
management in areas of digital strategy, supply chain and
operations," added Christian Feuer
of Go Global.
"We believe that ModCloth's strong brand equity positions it for
growth in the future," said Ashley
Hubka, senior vice president of corporate strategy,
development and partnerships at Walmart. "We feel good about the
progress at ModCloth and believe that Go Global's team and scale
out strategy presents an attractive opportunity for the employees
and customers of this beloved brand."
Walmart acquired the assets and operations of ModCloth in
March 2017 for an undisclosed amount.
The Go Global deal is expected to close later this year.
About Go Global Retail
Founded in 2016, Go Global Retail is a brand investment platform
for strategic investors in the consumer sector. Laser-focused on
identifying attractive targets, investing appropriate capital and
creating value for both investors and acquisitions, Go Global
partners include Investment, Retail and Operational Executives
working together to create a holistic approach to investing in the
ever-evolving world of global retail. For additional information,
visit https://www.goglobalretail.com/
About ModCloth
ModCloth is a digitally native lifestyle brand committed to
inspiring personal style and helping all women feel like the best
version of themselves. ModCloth's lifestyle-driven assortment
includes its signature line of feminine, vintage-inspired apparel,
offered in a full range of sizes (XXS-4X) at price points with
surprising value. Founded in a college dorm room by high school
sweethearts Susan Gregg Koger and
Eric Koger in 2002, ModCloth has
since grown to offices in Los
Angeles and Pittsburgh.
Additional information about ModCloth can be found at
https://www.modcloth.com/
Media Contact:
Press Contact
press@goglobalretail.com
+1-310-801-0196
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SOURCE Go Global Retail