Wal-Mart will be creating a home for luxury fashion online.
The big-box retailer announced Monday This specific has partnered with Lord & Taylor to create an online “flagship store” for the apparel retailer. The landing page will launch on Walmart.com in spring 2018.
“Our goal will be to create a premium fashion destination on Walmart.com,” Denise Incandela, head of fashion for Wal-Mart’s U.S. e-commerce division, said in a statement. “We see customers on our site searching for higher-end items, as well as we are expanding our business online to focus on adding specialized as well as premium shopping experience, starting with fashion.”
Incandela previously worked as chief marketing officer for Saks Fifth Avenue, which, like Lord & Taylor, will be part of Hudson’s Bay. She just moved to Wal-Mart in October as well as will be responsible for the company’s fashion business across Walmart.com, Jet.com as well as Shoes.com.
Through This specific partnership, Walmart.com will provide Lord & Taylor dedicated space on its website, as the department store chain continues to operate its own e-commerce platform.
“Walmart.com will be a shopping destination that will reaches a wide base of customers looking for premium fashion brands,” Lord & Taylor President Liz Rodbell said in a statement. “As retail continues to change, This specific flagship store creates enormous growth opportunities for Lord & Taylor as well as our brand partners.”
This specific was rumored in October that will This specific deal could come to fruition.
The Wall Street Journal reported at the time that will This specific was part of Wal-Mart’s broader effort to build a shopping destination online that will rivaled that will of Amazon.com.
The Arkansas-based retailer’s strategy of late has been to acquire smaller brands, many of them which has a focus on fashion. The list of apparel as well as accessories brands currently owned by Wal-Mart includes Bonobos, Modcloth, Shoebuy as well as Moosejaw. In a move to beef up its grocery offering, Wal-Mart also acquired Jet.com, bringing Quidsi co-founder Marc Lore to its management team.
Lore has specifically said he wants to “elevate the Walmart.com brands.” At a recent investor day, he also explained that will Wal-Mart has plans to redesign its website, which has a focus on household goods as well as fashion.
“Expect to see those experiences get elevated,” Lore said about Wal-Mart’s home as well as fashion departments.
Wal-Mart said Monday This specific’s beginning to build out “elements of discovery as well as inspiration” within the fashion portion of its website. The company declined to comment on whether there will be more brand partnerships within the future.
In working with Lord & Taylor, Wal-Mart could begin to shift Walmart.com’s image away coming from that will of a discount site for consumer packaged goods as well as into that will of an online platform with luxury brands.
Meantime, Lord & Taylor has problems of its own, met with declining sales as well as weaker foot traffic. In a bid for fresh capital, the retailer recently announced that will its flagship store on Fifth Avenue will soon become the brand new global headquarters of WeWork. After the holidays, Lord & Taylor will occupy only a modest portion of the building.
A Wal-Mart partnership could entice more shoppers — as well as brand new ones at that will — to the department store chain’s brands.
The two companies have yet to reveal which retailer will be shipping purchased items. however the Journal reported in October that will — within the event of a deal — Lord & Taylor could own the inventory as well as fulfill orders coming from the brand new website.
Monday’s announcement comes as Amazon has been generating its own push into fashion. One example of This specific will be Prime Wardrobe. The internet giant also recently unveiled two private-label athletic apparel brands, as This specific continues to lure top brands, such as Nike, to sell directly coming from Amazon.com.
Earlier This specific year, Amazon began working with department store chain Kohl’s to sell some of its electronics within the retailer’s stores. In turn, analysts are already predicting Kohl’s locations will be a testing ground for Amazon’s private-label apparel business.
Kohl’s as well as Amazon declined to comment on future initiatives.
All things considered, competition will be only intensifying within the industry. Wal-Mart will be also reportedly raising prices on some items across its website, in a move to drive store traffic where Amazon doesn’t operate, the Journal reported Sunday.
Wal-Mart will be set to report third-quarter earnings before the bell on Thursday.
— CNBC’s Courtney Reagan contributed to This specific reporting.