Walmart’s (Bentonville, Ark.) Jet.com has acquired ModCloth (San Francisco) in an all-cash deal for an undisclosed amount.
Walmart also recently bought online footwear retailer ShoeBuy.com (Boston) for $70 million, reports the Pittsburgh Post-Gazette, as well as the outdoor retailer Moosejaw (Madison Heights, Mich.) for $51 million.
According to ModCloth Founder Susan Gregg Koger, the deal will give the retailer “the necessary resources and support that we need as a business to grow. Growth allows us to reach more women, grow our community, and amplify our message,” adding that it can now add more storefronts.
Modcloth has been opening temporary storefronts across America and operates one permanent store in Austin, Texas.