In its second energy move of the month, Walmart acquired the intimate Bare Necessities brand for an undisclosed amount.
The 20-year-old company has more than 100,000 products with more than 160 brands, offering products ranging from bra to underwear to nightwear. Noah Wrubel, CEO and Co-Founder of Bare Necessities, will wear a double hat as part of this acquisition, leading the charge into the intimate category of Walmart and Jet.com while executing Bare Necessities.
Bare Necessities will remain
"Walmart has worked hard over the past year to establish itself as a destination for fashion, acquiring retailers specialized in digital origin. Brooke Glassberg, editor of the Bare Necessities blog, Bare It All, in an article. "In initiating discussions with their team, we realized how much we had in common with respect to customer engagement and that we could do even more if we combined our expertise in 39, intimacy with Walmart's resources, size and deep relationships. "
In a blog post, Denise Incandela, head of fashion at Walmart US Commerce, said that the acquisition was in line with the company's acquisition strategy of acquiring companies "with specialized expertise and assortment that can help improve the customer experience." on Walmart.com and Jet.com. "
The acquisition is part of Walmart's goal of becoming a fashion destination. The retail giant has also acquired the line large size for women, Eloquii, earlier this month.
In the blog post, Glassberg had promised that "the buying experience" for Bare Necessities "will not change".
"In fact, this is just the beginning, and it can only get better," said Glassberg. "We are for everyone and for everyone … and we are looking forward to the next step with Walmart."
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