Wal-Mart Partners With Lord & Taylor To Expand Its Online Presence

The partnership will allow Lord & Taylor to open a virtual storefront on Walmart.com

0
97
views
Walmart x Lord and Taylor
Photo: Techprenuer

New York, United States: Walmart Stores Inc. partners with the oldest luxury department store, Lord & Taylor in order to expand their fashion business on online channels.

Last Monday, Wal-Mart gave a tip that they are are working towards providing Hudson’s Bay Co. owned department store Lord & Taylor dedicated space on their website to prosper in the online fashion business.

The world’s largest retailer will start offering higher-end clothing and accessories from Lord & Taylor to its customers in spring 2018.

“Our goal is to create a premium fashion destination within Walmart.com,” Denise Incandela, Head of Fashion, Walmart U.S. eCommerce told Reuters in an interview on Monday. She said Wal-Mart shoppers search the retailer’s website for premium items and the company aims to expand its online business with a focus on such products.

“This is a part of a larger business strategy where we are working to create a new Walmart.com,” Incandela said. She did not comment on the financial terms of the partnership.

In the past year, Wal-Mart has been acquiring small online fashion brands like Shoebuy, Modcloth and Bonobos in an attempt to recover lost ground against Amazon and others in the online fashion world.

Wal-Mart is the world’s largest brick-and-mortar clothing retailer, with 2016 sales for that category exceeding $23 billion, according to retail think tank Fung Global Retail & Technology.

But despite its store muscle, Wal-Mart has failed to replicate that success online. It has not only struggled to attract the type of affluent young consumers who tend to shop for clothes online but due to its low-income customer base and brand perception, has also faced challenges in persuading well-known apparel brands to sell on its website.

The partnership will allow Lord & Taylor to open a virtual storefront on Walmart.com and boost customer traffic to its website by reaching a wider audience. It will boost Wal-Mart’s online assortment of premium products and advance the retailer’s effort to access millennial customers who usually do not shop on Walmart.com.

Virtual stores are also a preferred route for U.S. retailers to enter new countries where they don’t have operations. For example, Macy’s in 2015 said it would enter China with a virtual store on Alibaba and test demand in that market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here