The retail major Walmart has reportedly acquired an online lingerie retailer known as Bare Necessities. The amount of the acquisition deal has, however, not been disclosed.
This acquisition marks as Walmart’s second apparel-focused acquisition in less than two weeks. The company seems to be seeking deeper inroads into the online fashion space. Last week, the company acquired Eloquii, a fashion startup that sells plus-sized clothing.
Along with this, Walmart had also collaborated with comedian and talk show host Ellen DeGeneres to launch a women’s fashion line in August. Talking about last year, it 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.
“The acquisition of Bare Necessities fits well into our broader acquisition strategy, which includes two different types of companies: category leaders … and digital brands that offer unique products,” Denise Incandela, head of fashion, Walmart U.S. eCommerce, said.
Bare Necessities will continue to operate its website as before and will run as a standalone brand. Talking more about the brand, Bare Necessities was founded in 1998 and offers more than 160 brands, including bras, swimwear, shapewear and sleepwear.
The co-founder and chief executive of the lingerie retailer, Noah Wrubel, will be responsible for the intimates category on Walmart.com and Jet.com, which Walmart acquired in 2016.