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Bloomberg
Walmart is reportedly looking to sell ModCloth, the women’s apparel site it acquired two years ago, as it looks for ways to pare losses at its online business.
“I can confirm that Walmart has received outside interest from buyers for ModCloth,†the site’s CEO Silvia Mazzucchelli told Glossy magazine. “We are in the process of exploring potential opportunities.†Recode first reported that Walmart was considering a potential sale.
Representatives for Walmart didn’t immediately return requests for comment.
The world’s largest retailer acquired ModCloth in March 2017 to bring some much-needed pizzazz to the company’s stodgy apparel business, which for years didn’t venture far beyond basic items like t-shirts and underwear. Acquisitions of other online clothing retailers like Bonobos and Eloquii followed, along with a partnership to sell Lord & Taylor’s products on Walmart’s website.