New York • Wal-Mart has bought trendy clothing seller ModCloth, part of a big push to pick up smaller online brands as it tries to make headway against Amazon.
The company declined to specify the price on the deal that closed Friday, saying only that it was in the same range as its previous two purchases of online businesses. Those were $51 million and $70 million.
Wal-Mart is working hard to attract younger and more affluent shoppers, but winning over ModCloth's devoted customers, fans of its vintage-inspired patterned dresses, inclusive sizing and community feel, may be a challenge. Many expressed their disappointment on social media when they heard talk of a deal with Wal-Mart.