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US|Walmart Buys E-Retailer Lingerie Firm

Oct 22, 2018.Stephanie WuTokyo, JP
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On Oct. 12, Walmart announced the buying of online lingerie retailer Bare Necessities Ltd. just as it had finished its deal in acquiring plus-size brand ELOQUII on Oct. 2.

The purchasing amount of Bare Necessities and additional details on how the buy will boost its market share impact on earnings are undisclosed. Co-founder and CEO Noah Wrubel and co-founder Bill Richardson with their team of more than 170 employees will continue to operate as before and will run as a standalone brand.

Bare Necessities was founded in 1998 and offers more than 160 brands in bras, swimwear, shapewear and sleepwear web-only. With the previous acquisition of ELOQUII, the aims stated are the same: to create a assortment to enhance the customer experience digitally on and and to offer unique products found unlike anywhere else.

Year after year, Walmart has upped its game in the urgency to defend itself from being overtaken by other leading retailers in digital sales.

According to an estimated report from investment company Morgan Stanley, Amazon will overtake Walmart as the leading retailer in the apparel category in 2018. Walmart’s acquisitions starting from 2016 and now, Bare Essentials, is most likely a stance against Amazon’s fast pace growth.