- General
- December 6, 2018
- 4 minutes read
Walmart Acquires Art.com
Walmart operates same-day / last-mile delivery service Parcel which it also got through an acquisition last year image : Walmart Walmart…
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| Walmart operates same-day / last-mile delivery service Parcel which it also got through an acquisition last year
image : Walmart
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Walmart has made another acquisition to add to its e-commerce portfolio, this time acquiring the world’s largest online retailer in the art and wall décor category, Art.com bringing two million curated images including a growing exclusive assortment to its coffers.
The deal which involves acquisition of assets including catalog, IP, trade name, and U.S. operations for an undisclosed amount is scheduled to close early next year. Art.com which was founded in 1998 will operate as a standalone and complementary site while adding its vast art products to the company’s Walmart.com, Jet.com, and Hayneedle.com shopping sites.
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| Parcel founder Jesse Kaplan
image : Walmart
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Addition of these will enhance the customer experience during shopping on these sites while also giving Walmart more ground in what counts as a $10B annual market in the U.S. This is Walmart’s fourth acquisition this year after snapping up grocery delivery service Cornershop for $225 million, plus size brand Eloquii for $100 million and swimwear, and loungewear online retailer Bare Necessities for an undisclosed amount.
