Clothing.com For Sale, Expecting $15 Million

The domain name clothing.com is up for sale with the agent responsible claiming it is set to rank among the top 10 highest priced domain sales of all time with an expected sale price in excess of US$15 million.

Escrow.com, the world’s largest online escrow payment system, will participate in the Clothing.com deal to process the payment and handle the domain transfer once sold, as the highest secure standard for online transactions. Escrow.com expects the sale of the Clothing.com domain name to attract attention from a global trillion dollar industry, and could be a contender as one of the highest priced domain sales of all time.

In announcing their role in the sale, Escrow.com note since the COVID-19 shutdown, more consumers have shifted to buying online, with online sales overall on the rise. Clothing.com is the digital destination that can ride this wave of swelling eCommerce growth.

The sale will be done in three stages. Phase one consists of ongoing private discussions with interested parties, with private guidance. Phase two is a “Private Sale Non-Binding Offers” which must be received by 22 September. If a private sale is concluded before 15 October the process will not progress to phase three. Phase three will be an auction 15 October 2020 if a sale is not completed beforehand.

According to their recent Escrow.com Domain Investment Index: Q2 2020, domain sales were initially impacted by the economic uncertainty caused by COVID-19, however during the pandemic e-commerce globally has been a huge beneficiary. In the United States, in just the first four months of 2020, eCommerce growth accelerated at a faster rate than the past 10 years combined.

“Category killer domain sales are rarely public. I’m confident that Clothing.com could easily be positioned among the top all time highest public sales in the domain industry, and its buyer will have an incredible asset going forward,” said Jackson Elsegood, General Manager of Escrow.com. “We’re pleased that Clothing.com stakeholders and CEO, and TrueNorth IP have chosen Escrow.com to secure this potential multimillion dollar transaction.”

“Clothing.com can produce substantial financial and strategic value to the new owner and be an enduring source of competitive advantage,” said James Trueman, a globally recognised expert in intellectual property and the CEO of TrueNorth IP, Inc. “It also has the potential to be used as a platform to generate substantial incremental revenue rapidly while saving the buyer millions in marketing and branding expenses.”

“The combination of the large size of the clothing category, the category-defining name, and increasing digital penetration is leading Clothing.com into the ranks of a small handful of the most valuable domains in the world worth a minimum of $15 million, which includes Voice.com,” he concluded.

Previously, Escrow.com secured the auction of a similar major category-defining domain name, Fashion.com, which had a reserve price of US$10 million and was successfully sold above reserve. At the time it was speculated that the sale of Fashion.com could break the US$30 million record held by the sale of Voice.com.

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