Global e-commerce retailer Modnique Inc. has acquired the principal assets of Totsy Inc., a New York-based private sale Web site dedicated to off-price children’s, infant and toddler apparel and related merchandise.
Terms of the transaction weren’t disclosed. Einaras von Gravrock, cofounder and chief executive officer of Redondo Beach, Calif.-based Modnique, said the acquisition includes the Totsy brand, customer list, vendor book, social media presence and about $3 million in inventory, the majority of which will be donated to KIDS (Kids in Distressed Situations).
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