ModCloth is Sold Again, This Time to E-Commerce Company Nogin
Nogin, an outsourced e-commerce company that focuses on fashion and consumer products, announced in a press release that it has acquired ModCloth. The company purchased the digital-native retailer from Go Global for an undisclosed amount after Go Global previously acquired ModCloth from Walmart in January 2020.
According to the press release, Nogin plans to refresh ModCloth’s e-commerce operations using its Intelligent Commerce Solutions that helps brands leverage data analytics to grow their sales. Previously, Nogin was called Branded Online, and it provided e-commerce solutions to major brands such as Hurley, bebe, lululemon athletica, True Religion, and Yeezy.
Nogin has retained approximately 55 ModCloth employees and promoted CMO Mary Jimenez to CEO. Jimenez will be joined by employees of ModCloth's buying/brand/design/merchandising, logistics, tech/development/IT, accounting, and HR teams.
Total Retail's Take: This is the second time ModCloth has been sold in as many years. The women's apparel brand's acquisition by Walmart in 2017 had its detractors from the start, with many ModCloth customers voicing their displeasure that such a large corporation now owned the once "boutique-like" brand. Following a short stint under Go Global's ownership, hopefully ModCloth has found its new home with Nogin, which in theory should help position the once hot brand to re-emerge as a digital commerce force. It's also a good sign that Jimenez and other ModCloth team members are staying on-board, helping to ensure the unique brand won't lose its identity during yet another change in ownership.
Ashley Chiaradio is the Senior Content Strategist at Total Retail. Ashley has been creating content for more than 7 years, and provides a unique insight in covering the retail industry having worked directly for retailers in the past. She’s passionate about profiling women leadership in the space.