A fashion blog is reporting that Walmart will acquire an online fashion brand known for its eclectic and quirky styles.
Walmart’s Jet.com division will acquire Modcloth, reported CNBC, which cited the Jezebel fashion blog. The report comes on the heels of Walmart’s acquisition in February of online outdoor apparel brand Moosejaw.
Jezebel obtained a recording of Modcloth CEO Matthew Kaness telling employees about the deal, which is due to formally announced on Friday, the report said.
