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Walmart buys ModCloth

Walmart has acquired ModCloth, an American online women’s fashion retailer. The deal is part of an effort to increase Walmart's e-commerce footprint. Due to the acquisition, designers selling on ModCloth will now have an opportunity to expand their client base through Walmart’s e-commerce sites.

ModCloth, founded in 2002, will continue to operate as a standalone and complementary brand to Walmart’s other e-commerce sites and will bring experience and talent to strengthening the company’s fashion business aimed at millennials. Independent designers who sell on ModCloth’s site will gain the opportunity to expand their reach.

ModCloth has one physical store in the US. Its clothes spell quirk and originality. The ModCloth acquisition positions Walmart to gain the experience of a well-recognized specialty apparel e-commerce brand that's trusted by millions of millennial women.

ModCloth is known for its alternative, indie vibe and size-inclusive philosophy — kind of the opposite of Walmart. The indie retailer is most popular with 18- to 35-year-old women, a group Walmart wants to entice.

ModCloth had struggled to operate profitably and had been unsuccessful in recent attempts to raise additional funding. The company carries plus sizes and has a unique approach to fashion that mirrors its founders' fondness for vintage goods.