Nogin is a market leader in outsourcing online shopping for large fashion and consumer product firms It has purchased its assets from ModCloth which is a digitally native online retailer of women’s apparel and accessories. The Tustin-based firm bought ModCloth’s brand for an unspecified amount of money from Go Global Retail.
The company was initially established with the name Branded Online, Nogin has been able to provide Intelligent Commerce Solutions to major brands like Honeywell, Hurley, Bebe, Lululemon, True Religion, Yeezy, and, recently, Charming Charlie.
“We have the advantage of being able to help brands that are world-class profitable within 90 days of placing it on our site. We’ve always done. Making investments where we see the huge potential is an obvious extension of that,” stated Nogin CEO Jan-Christopher Nugent, in an announcement. “We are excited to be able to let ModCloth focus on providing amazing products and compelling stories to its community of loyal customers while remaining in line with its fundamental values that promote female empowerment and diversity.”
“ModCloth is an outstanding company that is poised for expansion,” said Jeff Streader who is the managing partner at Go Global Retail, in an announcement. “We are extremely pleased with the development at ModCloth following our acquisition of ModCloth from Walmart and are thrilled to see it continue its growth through the launch of Nogin.”
Nogin plans to revitalize its online business operations by using its own proprietary collection of Intelligent Commerce Solutions. The platform is comprehensive and lets brands leverage the power of data analytics to boost their business and their image. Alongside managing all aspects of the digital business The company also offers its partners a variety of services including branding strategy, creative and development, creative services logistics, as well as performance marketing.
“We are extremely excited to welcome ModCloth into our family,” added Nogin President and CTO Geoffrey Van Haeren in a statement. “The change to online shopping is enormous and we enjoy the fact that we can offer Intelligent Commerce and innovative products to retailers that are not ready for the demands of online shopping. So far, this method has yielded steady exponential growth.”
ModCloth has retained around 55 ModCloth employees and has kept the direction of the company unchanged with CMO Mary Jimenez named CEO. She will be joined by members of the brand’s buying/brand/design/merchandising, logistics, tech/development/IT, accounting, and HR teams who will be based in Nogin’s Tustin headquarters, as well as customer service representatives in ModCloth’s Pittsburgh, Pennsylvania call center. Tiger Finance provided acquisition financing and Tiger Valuation Services is providing assistance with inventory analytics.
