Jet.com bought ModCloth, which makes a strange kind of sense
Amazon has its private labels, and Walmart has Jet.com, which now has ModCloth.
The e-commerce subsidiary of Walmart on Friday closed a deal to buy ModCloth, the popular online retailer. The companies declined to confirm the price of the deal, but earlier reports pegged it between $50 and $75 million.
Jezebel first reported news of the acquisition earlier this week before the deal closed. The news was noteworthy, since ModCloth is known for its alternative, indie vibe and size-inclusive philosophy — kind of the opposite of Walmart. The indie retailer is most popular with 18- to 35-year-old women, a coveted group Walmart