Walmart to acquire plus-size clothing startup Eloquii

Wednesday 3 October 2018 13:48 CET | News

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

Eloquii sells apparel starting at size 14 through its own website and through five of its own stores. Plus-size apparel is part of a USD 21 billion market and represents one of the fastest growing segments in women’s apparel, according to the brick-and-mortar retailer Walmart, since more than half of women between the ages of 18 to 65 in the US wear size 14 or higher.

The startup’s management team and 100 employees will continue to be based in Long Island City, New York, and Columbus, Ohio. They will join Walmart’s US ecommerce team, and the deal is expected to close in Q4 2018.

Earlier in 2018, Walmart has announced it has plans to acquire the food delivery service Cornershop for USD 225 million, to ramp up its ecommerce business in Mexico and Chile.

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Keywords: Walmart, startup, Eloquii, acquisition, brick-and-mortar, retailer, US, ecommerce
Countries: World