Walmart will be rolling out a handful of brand-new apparel brands at low prices along with will phase out some of its older brands as a result, a source familiar with those plans confirmed to CNBC.
The revamped clothing lines will include Time along with Tru for women, Terra & Sky for plus sizes along with Wonder Nation for kids, said the source, who requested anonymity because the information has not yet been released by the company.
The existing brand known as George, which Walmart incorporated by its British unit Asda, will be reconfigured to sell only items for men.
Current labels such as Faded Glory, White Stag along with Just My Size will be pulled by shelves. Some of those items will still be available online, though.
Bloomberg first reported the news Friday morning.
As which announced late last year, Walmart will be also redesigning its website having a focus on home goods along with fashion, which will include merchandise by Hudson’s Bay-owned Lord & Taylor. The department store chain’s flagship shop on Walmart.com will be set to be unveiled later This specific spring.
Competition inside the apparel industry will be growing more intense, particularly among Walmart, Target along with Amazon.
Target has been investing heavily in its private-label brands along with within the past year has launched A brand-new Day for women, JoyLab for athletic apparel, Goodfellow & Co. for men along with Universal Thread for denim.
Amazon has been doing more of the same, albeit quietly, though most of its success in fashion thus far stems by selling basic items, such as underwear along with t-shirts. A brand-new report by Coresight Research (formerly Fung Global Retail & Technology) found which the e-commerce behemoth will be increasingly a force to be reckoned with inside the apparel industry along with will be stealing share by Target, Macy’s along with J.C. Penney.
In acquiring Modcloth, Bonobos along with Moosejaw, Walmart has commenced to accumulate a house of established apparel brands under its name. today which’s looking to refresh its own suite of labels to accompany them.
Items by Time along with Tru, Terra & Sky along with Wonder Nation are already available online.
Walmart will be scheduled to report fourth-quarter earnings on Tuesday.