TUSTIN, Calif., May 5, 2021 /PRNewswire/ -- Nogin, the
market leader in outsourced ecommerce for major fashion and
consumer product companies, today announced that it had acquired
the assets of ModCloth, a digitally native retailer of unique
women's fashion and accessories.
The Tustin-based company
purchased the brand for an undisclosed sum from Go Global Retail.
Since its founding in 2002, ModCloth has been dedicated to serving
a full spectrum of women by celebrating their stories and offering
a complete range of sizes of indie-inspired fashion.
Initially founded as Branded Online, Nogin has provided
Intelligent Commerce Solutions to major brands such as Honeywell,
Hurley, Bebe, Lululemon, True Religion, Yeezy and, recently,
Charming Charlie.
"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. It's what we have always done. Investing where we see
great potential is a natural extension," said Nogin CEO
Jan-Christopher Nugent. "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."
"ModCloth is an amazing brand poised for growth," stated
Jeff Streader, Managing Partner with
Go Global Retail. "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."
Nogin plans to reinvigorate the brand's ecommerce operations
using its proprietary suite of Intelligent Commerce Solutions. The
company's comprehensive platform allows brands to leverage advanced
data analytics to grow their brand and sales. In addition to
managing the entire digital operation, the company offers its
partners a suite of services that includes brand strategy, creative
services, development, logistics, and performance marketing.
"We are truly excited to bring ModCloth into our fold," added
Nogin 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."
The company has retained approximately 55 ModCloth employees and
kept the leadership constant, with CMO Mary Jimenez named CEO. She
will be joined by members of the brand's
buying/brand/design/merchandising, logistics, tech/development/IT,
accounting, and HR teams who will be based in Nogin's Tustin headquarters, as well as customer
service representatives in ModCloth's Pittsburgh, Penn. call center.
Tiger Finance provided acquisition financing, and Tiger
Valuation Services is providing inventory analytics support.
About Nogin
Nogin delivers Intelligent Commerce Solutions to leading brands in
the fashion, CPG, beauty, health, and wellness industries. The
company provides a full-stack ecommerce platform that includes
R&D, sales optimization, and machine learning, along with
artificial intelligence-driven marketing and fulfillment. Known for
helping global brands keep pace with big retail and drive
predictable profitability, Nogin partners with clients to take the
ecommerce operation, team, and data from the ground up—typically in
less than 90 days. For more information on the company's services,
visit www.nogin.com.
Media Contact: Jan-Christopher
Nugent, CEO, 949-235-6255, 309285@email4pr.com
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SOURCE Nogin