In its second power move of the month, Walmart has acquired intimates brand Bare Necessities for an undisclosed amount.
The 20-year old company has more than 100,000 products with over 160 brands, offering products from bras to underwear to sleepwear. Noah Wrubel, CEO and co-founder of Bare Necessities, will wear a dual hat as part of the acquisition, leading the charge in Walmart and Jet.com’s intimates category while running Bare Necessities.
Bare Necessities itself will still exist as a standalone site and become integrated with the rest of Walmart’s websites.
“Walmart has done a lot over the past year to establish itself as a destination for fashion, from acquiring specialty retailer and digitally native brands to aggressively expanding its fashion assortment,” wrote Brooke Glassberg, the editor of Bare Necessities blog Bare It All, in a post. “As we began conversations with their team, we realized how much we had in common around customer commitment and that we could do even more if we combine our expertise in intimates with Walmart’s deep resources, scale and relationships.”
In a blog post, Denise Incandela, head of fashion, Walmart U.S. commerce, said the acquisition aligned with the company’s overall acquisition strategy goal of buying companies “with specialized expertise and assortment that can help enhance the customer experience on Walmart.com and Jet.com.”
The acquisition falls in line with Walmart’s goal to become a fashion destination. The retail giant also acquired the women’s plus-size line, Eloquii, earlier this month.
Glassberg promised in the blog post that “the shopping experience” for Bare Necessities “won’t be changing.”
“In fact, this is just the beginning, and it’s only going to get better,” Glassberg said. “We are for everybody and every body … and we can’t wait to take that to the next level with Walmart.”
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