America’s leading offline retailer Walmart Inc. has acquired online lingerie retail brand Bare Necessities which will continue to run its own website.
The company was set up in 1998 and offers bras, swimwear, shapewear and sleepwear under 160+ brands, including Spanx, DKNY, Calvin Klein, Bali, Maidenform and Playtex.
Incorporating these brands into Walmart would give more options for the customers to choose from.
The acquisition follows Walmart’s purchase last week of plus-sized fashion start-up Eloquii and other acquisitions over the past couple of years that have expanded Walmart’s fashion business.
Denise Incandela, Head, Walmart’s E-commerce Fashion Business, said: The acquisition of Bare Necessities fits well into our broader acquisition strategy, which includes two different types of companies: 1) category leaders with specialised expertise and assortment that can help enhance the customer experience on Walmart.com and Jet.com and 2) digital brands that offer unique products customers can’t find anywhere else.”
Reports claim that currently Walmart has an 8.6 percent share in the US apparel market in 2017, followed by Amazon with 7.9 percent and Target with 4.8 percent.