Wal-Mart’s head of U.S. e-commerce, Marc Lore is leading an assault on internet shopping for the traditionally brick and mortar retailer. Wal-Mart is working with up-market department store Lord & Taylor (owned by Hudson’s Bay Co.) to add the retailer’s website to WalMart.com. Suzanne Kapner and Sarah Nassauer explain that the plan is to make the website an internet mall featuring higher-end brands. They continue:
Additional brands that eventually could be included in the project include men’s clothing company Bonobos and online retailer Jet.com, both of which are owned by Wal-Mart, as well as other traditional chains, one of the people said. Financial terms of the potential Lord & Taylor partnership couldn’t be learned.
Last year, Wal-Mart bought Jet, placing its founder Marc Lore at the head of U.S. e-commerce operations. Then Wal-Mart made a series of smaller e-commerce purchases including Moosejaw, Bonobos and ShoeBuy, both to expand its online selection and gain access to brands built online, executives have told investors.
Now Wal-Mart aims to make walmart.com more attractive to premium brands and high-income shoppers, an area Amazon has also pursued in recent years.
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