Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Tiger Finance Helps Fund Nogin’s Acquisition of ModCloth

Tiger Finance, an affiliate of Tiger Group announced that it provided financing to support the April 2021 acquisition of digitally native fashion retailer ModCloth by Nogin, the market leader in outsourced e-commerce for major fashion and consumer product companies.

Tiger provided a $6 million term loan to Nogin to help fund its purchase of the ModCloth assets from brand investment platform Go Global Retail for an undisclosed sum. Additionally, Tiger Valuation Services is providing inventory analytics support to Nogin.

Recommended AI News: Domino Data Lab and MathWorks Partner to Enhance MATLAB and Simulink Cloud Offerings

Founded in 2002, ModCloth offers exclusive indie and vintage-inspired women’s clothing, shoes, handbags and accessories for 18- to 35- year-old women of all sizes. Go Global had acquired ModCloth from Walmart in January 2020 in a transaction that also included financing from Tiger, which specializes in the provision of secured debt financing and equity investments, as well as comprehensive appraisals for the ABL industry and the disposition of consumer and industrial assets.

Related Posts
1 of 28,833

“We are pleased to have been able to assist Nogin in its first acquisition of a consumer brand, as this fast-growing company looks to diversify beyond its traditional role of managing the e-commerce operations of major brands,” said Tiger Finance Managing Director Andrew Babcock. “This was a natural step in the company’s progression and provided the perfect opportunity for Nogin to step in and buy an established online retailer with a very loyal and passionate following.”

Recommended AI News: Mediafly Adds Sales Enablement Veterans to Board of Advisors

Originally founded as Branded Online, the Tustin, California-headquartered Nogin has provided enterprise-level solutions and technology for such major brands as Honeywell, Hurley, Bebe, Lululemon, True Religion, Yeezy and, most recently, Charming Charlie’s.

“We have a huge advantage of being able to get brands to be world class and profitable within 90 days of putting them on our platform. It’s what we have always done. Investing where we see great potential is a natural extension,” said Nogin CEO Jan-Christopher Nugent. “The seamless partnership with Tiger paves the way for ModCloth to focus on delivering great products and stories to the brand’s community of passionate consumers, while staying true to its core values that champion female empowerment and inclusivity.”

Bob DeAngelis, Executive Managing Director at Tiger Finance, added: “The Nogin transaction represents a continuation of Tiger’s growing presence in e-commerce asset-valuation, monetization and capital-infusion. This is a natural outgrowth of our long history in brick-and-mortar retailing. Like their brick-and-mortar counterparts, e-commerce companies have to constantly review their assets to support their go-forward strategies, which might include acquiring or selling brands or selectively liquidating online inventories. Our team at Tiger is well equipped to meet all of those needs for this ever-growing industry.”

Recommended AI News: TA Realty Launches Development of Data Center Campus in Loudoun County, VA

Comments are closed.