Wal-Mart partners up with fashion retailer Lord & Taylor

Marco Green
November 15, 2017

Walmart.com may be a destination for people shopping for laundry detergent and cake mix, but the retailer is doubling down on efforts to reach a more fashionable consumer through a new partnership with the upscale specialty store Lord & Taylor.

Wal-Mart Stores Inc said on Monday it will offer Hudson's Bay Co- owned department store chain Lord & Taylor dedicated space on its website, as it looks to make deeper inroads into the fast-growing online fashion business.

"This is a part of a larger business strategy where we are working to create a new Walmart.com", Incandela said. Walmart's big push to expand online comes as it tries to position itself to challenge Amazon. In June, the company inked an agreement to acquire online menswear retailer Bonobos in a deal worth US$310m as part of a broader strategy being undertaken by the U.S. retail giant to beef up its e-commerce footprint against Amazon.

In the past year, Wal-Mart has been acquiring small online fashion brands like Shoebuy, Modcloth and Bonobos in an attempt to recover lost ground against Amazon and others in the online fashion world.

"Walmart.com is a shopping destination that reaches a wide base of customers looking for premium fashion brands", Rodbell continues.

While Walmart's online presence grows - its online sales grew 67% from the third quarter a year ago - Lord & Taylor's parent company, Hudson Bay Company (which also owns Saks Fifth Avenue and Gilt), undergoes a massive restructuring. Last month, Lord & Taylor sold its flagship NY store to WeWork for $850 million.

The giant retailer has partnered with the department store Lord & Taylor to "create a premium fashion destination on Walmart.com", Denise Incandela, head of fashion for Walmart's USA e-commerce business, said in an announcement.

The Canadian retailer said last week it has received confirmation from the Toronto Stock Exchange (TSX) that its application relating to Rhône Capital's US$500m (CAD632m) investment has been approved.

Other reports by Click Lancashire

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