Senior Correspondent, IndianRetailer.com & Retailer Magazine Oct 13, 2018 / 2 MIN READ
Walmart Inc has acquired online lingerie retailer Bare Necessities for an undisclosed amount. Walmart last week acquired Eloquii, a fashion startup that sells plus-sized clothing.
The company also tied up with comedian and talk show host Ellen DeGeneres to launch a women's fashion line in August.
In 2017, the Bentonville, Arkansas based retailer partnered with department store chain Lord & Taylor and started offering its products on Walmart.com. Lord & Taylor is owned by Hudson's Bay Co.
Walmart also last year bought ShoeBuy, which specializes in footwear and apparel; Moosejaw, which sells outdoor wear; Bonobos, which sells men's clothing and ModCloth, an online seller of women's apparel.
Walmart's string of small fashion-company acquisitions is designed to help the retailer access younger, millennial customers who do not normally shop on its website, and recover ground lost to Amazon.com Inc and others.
( Source: Reuters)
Walmart seeks to onboard Indian manufacturers and brand owners across various categories to its marketplace, thereby driving value for millions of customers.
This strategic initiative not only solidified Walmart's commitment to the Indian market but also actively contributed to supporting India's ambitious vision of evolving into a leading participant in global markets.
Walmart International reported a decrease in net sales from $29.45 billion to $29.13 billion, with operating income falling by 29.6 percent to $893 million in Q2 FY20 compared to the previous year.
Precision Development currently reaches out to 70,000 coffee farmers in Karnataka and Andhra Pradesh, while TechnoServe has engaged with over 10,000 farmers across 8 FPOs.
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