• Recode reports that “Matt Kaness, the former CEO of ModCloth who sold the women’s fashion retailer to Walmart one year ago, has recently left the mammoth brick-and-mortar retailer, multiple sources have told Recode.
“Walmart acquired ModCloth in March of last year to help boost the fashion assortment of its subsidiary Jet.com, and Kaness continued to run that retail operation for the next few months. But the retail industry veteran later turned down a move from San Francisco to Los Angeles after Walmart management decided that the CEO role should be based there, ultimately paving the way for his exit, according to one source.”
“Walmart acquired ModCloth in March of last year to help boost the fashion assortment of its subsidiary Jet.com, and Kaness continued to run that retail operation for the next few months. But the retail industry veteran later turned down a move from San Francisco to Los Angeles after Walmart management decided that the CEO role should be based there, ultimately paving the way for his exit, according to one source.”
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