Walmart says it’s acquiring an online plus-size fashion brand called Eloquii Design Inc., continuing its buying spree of niche brands as tries to compete better with online leader Amazon.com
Walmart declined to disclose the purchase price, but says the move will help it get a foothold into the $21 billion plus-size women’s clothing arena. Eloquii also operates five retail stores. It says its executive team, including CEO Mariah Chase as well as its 100 employees, will continue to be based in Long Island City, New York, and Columbus, Ohio.
Walmart aims to attract younger and more affluent shoppers with its string of acquisitions. Two years ago, it bought Jet.com for more than $3 billion and since then, it’s been concentrating on buying smaller online brands such as Bonobos and Moosejaw.
This article provided by NewsEdge.