• BizWomen reports that Walmart-owned ModCloth, which sells woman’s vintage clothing and was acquired by Walmart to give it greater access to the millennial market, recently “added an outlet to its online store to not only clear out excess inventory, but also to win new shoppers who have liked but felt they couldn't afford the brand.”
The company says that it “offered 1,600 items for sale initially and many sold out quickly … The company will re-focus on full-price sales from August until the winter clearance season.”
BizWomen notes that ModCloth has been moving in fits and starts since it was bought by Walmart (probably for somewhere between $50 million and $75 million). They announced a plan to open more than a dozen bricks-and-mortar units, but apparently only opened four. Now, there has been speculation that Walmart may be planning to sell ModCloth … it is seen as a non-core asset, and Walmart has been facing e-commerce losses that could be as high as $1 billion this year.
The company says that it “offered 1,600 items for sale initially and many sold out quickly … The company will re-focus on full-price sales from August until the winter clearance season.”
BizWomen notes that ModCloth has been moving in fits and starts since it was bought by Walmart (probably for somewhere between $50 million and $75 million). They announced a plan to open more than a dozen bricks-and-mortar units, but apparently only opened four. Now, there has been speculation that Walmart may be planning to sell ModCloth … it is seen as a non-core asset, and Walmart has been facing e-commerce losses that could be as high as $1 billion this year.
- KC's View:
