Matt Kaness, the former CEO of ModCloth, Inc., has left Walmart Inc. a year after the retail giant bought the online apparel retailer ModCloth, Recode reported March 22.
Walmart acquired ModCloth in March 2017 in order to expand its range with the vintage-style clothing. Kaness reportedly ran the ModCloth operation for Walmart for several months but eventually rejected an offer to move from the San Francisco Bay Area to Los Angeles and left the company, according to Recode, citing an unnamed source. Walmart reportedly wanted the individual who held the title of CEO of ModCloth to be based in Los Angeles to be closer to design and merchandising teams. A Walmart spokesperson confirmed Kaness' departure to Recode.
Former Bonobos CFO Antonio Nieves will replace Kaness as CEO of ModCloth, according to Recode. Kaness did not respond to a request for comment by Recode.
The retailer has bought a number of startups in recent years, including men's online retailer Bonobos Inc., Jet.com and New York-based delivery service Parcel.