Source: ModCloth via Bloomberg
Fashion

ModCloth Plans Huge Expansion Under New CEO

Matt Kaness wants to double the $150 million business with physical stores, private-label clothes, and international growth

ModCloth’s first brick-and-mortar shop, near San Francisco’s Union Square, is filled with the whimsical tops and dresses shoppers have come to expect from the 13-year-old website. The clothes inside the “fit shop” are meant to be tried on and then ordered to customers’ homes, while the accessories and one-of-a-kind vintage gear can be bought on the spot and taken home. Although the location is temporary, it’s a sign of things to come. “It’s an incubator, so to speak, of what we think the future of ModCloth stores will be,” says Chief Executive Officer Matt Kaness, who’s planning a large expansion at the retailer after taking the top job in January.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.