Mega retail giant Walmart acquiesced ModCloth, a mostly online retail store known for its vintage-inspired patterns and inclusive sizing, as part of a push to compete with Amazon and win over younger customers, according to USA Today. Walmart declined to note the price of the deal that closed Friday, but said that it was around the prices of two previous purchases it had made of online businesses. Those ranged from $51 million to $70 million.
Winning over ModCloth's customers may prove to be a challenge, though. Those not willing to support Walmart have already begun compiling a list of ModCloth alternatives.
A Walmart based in Arkansas said that ModCloth will continue to operate as a stand-alone brand to its other e-commerce sites. ModCloth CEO Matthew Kaness, the executive team and the company's 300-plus employees are expected to stay based in San Francisco, Los Angeles and Pittsburg.