So, Along with products of departments like Electronics, Movies, Music, Books, Furniture & Appliances, Baby & Toddler on Walmart, everyone will soon be able to buy upscale fashion too.
Yes, of course, Denise Incandela, head of fashion for Walmart’s US e-commerce business, said in an announcement that the giant retailer has partnered with the department store Lord & Taylor to “create a premium fashion destination on Walmart.com”.
As per recent news Walmart has planned to launch a dedicated Lord & Taylor store on Walmart’s website in spring 2018. Following this an app will also be availed to Walmart’s online shoppers which enables customers access to labels sold at Lord & Taylor. It’s not clear at this point whether that will include all items Lord & Taylor currently carries, which include Polo Ralph Lauren sweaters, Badgley Mishka dresses, and other pricey pieces.
Incandela also explained in the announcement that those are the sorts of items its shoppers want. “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,”
It’s clear that Walmart has been accelerating to turn itself into an online fashion store as part of a so-far-successful effort to boost its e-commerce business. It’s trying to stay competitive against Amazon, which has been gobbling up US e-commerce, including clothing retail.
In recent years walmart has been acquiring brands which has a loyal following of millennial men and womens. Even last year, Walmart has acquired online footwear seller ShoeBuy; outdoor brand Moosejaw; the fun, inclusive clothing retailer ModCloth, which has a following of millennial women; and menswear brand Bonobos, which has a following of millennial guys.
Although selling high-end clothes isn’t easy for a retailer known for cheap and less rarefied products, as Amazon has demonstrated. It is very well known that Walmart’s online fashion business will expand further by partnering up with the Lord & Taylor. Like Amazon, Walmart already sells a huge number of designer labels on its site through its marketplace, which lets third-party sellers reach Walmart’s online audience.
According to the announcement Lord & Taylor, meanwhile, gets to reach more shoppers—”exponentially more,” —than it currently does through its own site. Like other department stores, it has watched sales fall as mall traffic declines and shoppers move online, and shift their spending on clothes toward brands such as Zara. That’s if they’re buying clothes at all—many shoppers are prioritizing spending on experiences over buying things.
Lord & Taylor recently took the measure of selling off a large part of its historic New York City flagship store to WeWork. The department store will retain just the bottom floors, while WeWork will take over the rest. Clearly the store is looking to boost its bottom line any way it can.
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