Walmart snaps up online lingerie retailer Bare NecessitiesTagged with: apparel retail news | Bare Necessities | Denise Incandela | Noah Wrubell | Retail acquisition news | USA | Walmart
Walmart acquisition of Bare Necessities : US retail giant Walmart has acquired Bare Necessities, an American online lingerie retailer for an undisclosed price as per the latest retail acquisition news.
Bare Necessities is one more addition to Walmart’s portfolio of digital apparel brands such as Bonobos, Modcloth and ELOQUII.
Bare Necessities, established in 1998, offers a variety of bras, swimwear, shapewear and sleepwear under more than 100,000 SKUs from 160 plus brands.
Walmart US eCommerce Fashion head Denise Incandela, commenting on Walmart acquisition of Bare Necessities, said: “As we continue to build our assortment, we are also focused on bringing on the right talent and expertise to drive our fashion business. With that in mind, today, I’m thrilled to announce the acquisition of Bare Necessities, a leading intimates online retailer, who will join the Walmart US eCommerce portfolio.”
Upon completion of Walmart acquisition of Bare Necessities, the online lingerie retailer will continue to run its website and operate independently and become a complementary brand to the eCommerce sites of Walmart.
The retail giant is looking to integrate the product range of Bare Necessities onto Walmart.com and Jet.com.
As per the terms of the Walmart acquisition of Bare Necessities, Noah Wrubell, the CEO and co-founder of Bare Necessities will continue to operate the company as well as lead intimates category for both Walmart.com and Jet.com.
Denise Incandela said: “I couldn’t be more excited to welcome Noah, Bare Necessities COO and co-founder Bill Richardson, and the rest of the Bare Necessities team to the Walmart family. I look forward to working with them to build a best-in-class intimates customer experience across Walmart US eCommerce.”
Walmart acquisition of Bare Necessities follows this month’s acquisition of US online plus size clothing store Eloquii by the retail giant, also for an undisclosed prize.
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