Go Global Retail to Acquire ModCloth From Walmart
October 04 2019 - 03:53PM
Dow Jones News
By Stephen Nakrosis
Go Global Retail said Friday it will acquire the assets of
ModCloth from Walmart, Inc. (WMT).
ModCloth is an online retailer of women's fashion and
accessories, Go Global said.
Walmart acquired ModCloth's assets and operations in company in
2017.
Go Global said ModCloth will continue to utilize its current
operational set-up and will receive investment in its digital
capabilities.
"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.
Financial terms of the deal weren't disclosed.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 04, 2019 15:38 ET (19:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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