Walmart acquires online retailer Bare Necessities

Tuesday 16 October 2018 13:58 CET | News

Walmart has acquired online retailer Bare Necessities for an undisclosed amount, as it seeks deeper inroads into the online fashion space.

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. However, Bare Necessities will continue to operate its site as before and will run as a standalone brand, according to the company.

Walmart did not offer additional details on the impact of the acquisition to earnings and did not comment on how this buy will bolster its market share in the category.

Earlier in 2018, Walmart has announced the acquisition of Eloquii, a startup that sells plus-size clothing, for an undisclosed amount.

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Keywords: Walmart, Bare Necessities, acquisition, retailer, millennial customers, ecommerce
Countries: World