Walmart.com teams up with upscale Lord and Taylor

Walmart.com teams up with upscale Lord and Taylor

The deal will also increase Lord & Taylor's online shopping traffic as the agreement will allow the department chain to have a dedicated store on Walmart.com and the Walmart app that will exponentially reach many more customers than it now does through its own website. Lord & Taylor will keep their existing ecommerce site at lordandtaylor.com, so this new store is really just to attract new customers that wouldn't otherwise shop with them online. She did not comment on the financial terms of the partnership.

The move followed the acquisitions of women's online fashion and accessory retailer ModCloth, online outdoor apparel and gear retailer Moosejaw for US$51m, and online footwear, clothing and accessories retailer ShoeBuy. Department stores have lost customers, and Lord & Taylor's parent company is selling the NY flagship building and will lease back some of the space. REUTERS/Shannon StapletonWal-Mart is the largest brick-and-mortar clothing retailer in the United State, with 2016 sales for that category exceeding $23 billion, according to retail think tank Fung Global Retail & Technology. 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 USA retail giant to beef up its e-commerce footprint against Amazon.

Over the past year, Walmart has aggressively expanded its online assortment, now offering more than 60m items on the site, compared to 20m last year. Amazon leads the US online clothing and footwear market with sales of $13 billion in 2016, up $9 billion from five years ago. Walmart predicts American apparel shares to triple in the next 4 years.

Lord & Taylor is America's oldest department store chain, and typically serves higher-end markets. Virtual stores are also a preferred route for USA retailers to enter new countries where they don't have operations.

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