Walmart-owned indie and vintage-inspired women’s clothing retailer ModCloth has 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, company representatives told Retail Dive. The outlet offered 1,600 items for sale initially and many sold out quickly, said Sabina Weber, ModCloth’s vice president of marketing, and Mary Jimenez, vice president of merchandising, in an email to Retail Dive. Walmart (NYSE: WMT) bought ModCloth two years ago for an undisclosed amount estimated to be between $50 million and $75 million, per TechCrunch, a move aimed at capturing more of the millennial market. Read More...
ModCloth online outlet targets new customer base
Walmart-owned indie and vintage-inspired women’s clothing retailer ModCloth has 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, company representatives told Retail Dive. The outlet offered 1,600 items for sale initially and many sold out quickly, said Sabina Weber, ModCloth’s vice president of marketing, and Mary Jimenez, vice president of merchandising, in an email to Retail Dive. Walmart (NYSE: WMT) bought ModCloth two years ago for an undisclosed amount estimated to be between $50 million and $75 million, per TechCrunch, a move aimed at capturing more of the millennial market.
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