Walmart, Amazon, and eBay are working hard to bring fashion brands to their online marketplaces. Walmart scored a win this week, announcing a partnership with Lord & Taylor, one of the oldest department stores in the country and part of the Hudson’s Bay Company brand portfolio. The new flagship Lord & Taylor store will open on Walmart.com next year to bring premium fashion to Walmart customers.
The AP (via the Sacramento Bee) points out retail stores are increasingly picking sides – bringing up previously announced deals Kohl’s, Nike, and Sears have made with Amazon, and reporting: “Denise Incandela, head of fashion at Walmart’s U.S. e-commerce division, says it’s focusing on specialized shopping experiences, starting with fashion. Since the $3 billion-plus acquisition of Jet.com last year, Walmart has bought several online brands like Bonobos and ModCloth.”
Press release follows:
Walmart.com and Lord & Taylor announced today that Lord & Taylor will launch a flagship store on Walmart.com. Expected to launch in spring 2018, Walmart.com will introduce a specialized online experience offering premium fashion brands directly from the Lord & Taylor flagship.
“Our goal is to create a premium fashion destination on Walmart.com,” said Denise Incandela, Head of Fashion, Walmart U.S. eCommerce. “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. We’re excited that Lord & Taylor is part of the team we’re working with as we continue to create a new Walmart.com.”
In conjunction with the launch of the Lord & Taylor flagship store on Walmart.com next year, Walmart is also evolving how customers will be able to shop fashion on the site, adding elements of discovery and inspiration. As part of this experience, Lord & Taylor will have a dedicated store on Walmart.com and the Walmart app that will reflect the premium fashion it is known for, reaching exponentially more shoppers than it currently does through lordandtaylor.com.
“As retail continues to change, this flagship store creates enormous growth opportunities for Lord & Taylor and our brand partners,” said Liz Rodbell, President of Lord & Taylor. “Our customers trust us to deliver high-quality fashion apparel and accessories, and we will soon be able to extend the reach of that offering to new customers through this flagship store. Walmart.com is a shopping destination that reaches a wide base of customers looking for premium fashion brands. They are a great company for us to work with as we continue to grow our digital presence.”
Over the past year, Walmart has aggressively expanded its online assortment. Walmart.com currently offers more than 60 million items on the site, compared to 20 million items last year. At the same time, Lord & Taylor continues to evolve its department store model, combining brick and mortar locations with compelling online destinations for a truly exciting all-channel experience.
SOURCE: Walmart Press Release