ModCloth acquired by outsourced e-commerce specialist Nogin
Indie fashion e-tailer ModCloth has been purchased from Go Global Retail by e-commerce solution provider Nogin for an undisclosed sum, signaling the Tustin, California-based company's first investment in a digitally native brand.
Nogin intends to use its propriety suite of online solutions to help make over the digitally native womenswear retailer’s e-commerce operations. This process will notably include leveraging advanced data analytics in an effort to fuel the brand’s growth.
The company will also support the brand with its services offering, which includes brand strategy, creative services, development, logistics and performance marketing.
“We have a huge advantage of being able to get brands to be world class and profitable within 90 days of putting them on our platform,” said Nogin CEO Jan-Christopher Nugent in a release. “We are thrilled to free up ModCloth to focus on delivering great products and stories to the brand's community of passionate consumers, while staying true to its core values that champion female empowerment and inclusivity.”
Nogin has retained around 55 ModCloth employees and left the brand’s leadership largely unchanged, with CMO Mary Jimenez stepping into the role of CEO. ModCloth’s corporate workforce, including its buying, brand, design and merchandising; logistics; tech, development and IT; accounting, and HR teams, will now be based at Nogin’s HQ in Tustin. The brand’s customer services will move into ModCloth’s call center in Pittsburgh.
Previously based in San Francisco, ModCloth was founded in 2002. The brand, which specializes in indie and vintage-inspired women’s apparel, shoes, handbags and accessories, was acquired by Walmart in 2017, before being sold on to Go Global Retail in January 2020.
“ModCloth is an amazing brand poised for growth,” commented Go Global Retail managing partner Jeff Streader. “We feel very good about the progress at ModCloth since our January 2020 acquisition of the brand from Walmart and are excited to see its momentum continue with Nogin.”
Initially founded as Branded Online in 2010, Nogin’s specializes in managing the online presence of brands operating in the fashion, CPG, beauty, health and wellness industries. The company's roster of clients includes the likes of Honeywell, Hurley, Bebe, Lululemon, True Religion, Yeezy, Charming Charlie.
“We are truly excited to bring ModCloth into our fold,” said the company’s president and CTO, Geoffrey Van Haeren. “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. To date, this strategy has driven consistent exponential results.”
Nogin’s acquisition of ModCloth was supported by funding from New York-based Tiger Finance, which also provided financing for Go Global Retail’s purchase of the brand in 2020.
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