Tuesday, 21 November, 2017

Walmart Is Now Selling High-Fashion Clothing Thanks to This Luxury Retailer

Lord & Taylor will start selling on Walmart.com Walmart Is Now Selling High-Fashion Clothing Thanks to This Luxury Retailer
Conrad Doyle | 15 November, 2017, 01:57

As part of its plans to deliver luxury fashion, United States retail giant Walmart is to launch a dedicated online Lord & Taylor flagship store next year, offering premium fashion brands to its customers. The initiative announced Monday will start next spring.

"Our goal is to create a premium fashion destination on Walmart.com", said the Head of Fashion for Walmart's U.S. E-commerce Division Denise Incandela in a statement to NBC. "We see customers on our site searching for higher-end items, and we are expanding our business online to focus on adding specialized and premium shopping experiences, starting with fashion", Incandela explained in the announcement. That's a far cry from Walmart's traditional discount-heavy approach, but L&T needs to make such deals these days amid sharply declining mall traffic and a highly competitive retail landscape. She did not comment on the financial terms of the partnership. The partnership provides Walmart.com more premium products, and it brings in a crowd that normally doesn't shop there: millennial customers.

The move followed the acquisitions of women's online fashion and accessory retailer ModCloth, online outdoor apparel and gear retailer Moosejaw for US$51m, and online footwear, clothing and accessories retailer ShoeBuy.

The world's largest retailer is offering department store chain Lord & Taylor dedicated space on its website.

Wal-Mart is the largest brick-and-mortar clothing retailer in the United State, with 2016 sales for that category exceeding $23 billion, according to retail think tank Fung Global Retail & Technology. That's where rival Amazon leads.

But despite its store muscle, Wal-Mart has failed to replicate that success online.

Virtual stores are also a preferred route for USA retailers to enter new countries where they don't have operations.

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