Walmart continues its online buying spree, but this time the target is a Web domain.
ShoeBuy.com, which Walmart acquired in January, has acquired the shoes.com domain name and related intellectual property for $9 million, according to documents filed with the Supreme Court of British Columbia in Bankruptcy and Insolvency. In an unexpected move, the Canada-based Shoes.com shut down its online sites and brick-and-mortar operations in January.
According to a Footwear News report, shoppers visiting shoes.com will be linked to a new homepage on Shoe.com and go on to shop the 800-plus footwear brands, as well as outerwear and handbags.
In the coming months, ShoeBuy plans to overhaul and revive the Shoes.com site to create an experience that mirrors ShoeBuy’s approach to online retailing, the report said.
Walmart’s purchase of ShoeBuy was a direct hit against Amazon, which owns Zappos.
Under the direction of its U.S. digital chief Marc Lore, Walmart has been expanding its line capabilities and fashion offerings. Since January, in addition to ShoeBuy, the discounter has acquired outdoor gear online retailer Moosejaw, and Modcloth, a young women’s apparel and accessories retailer. This week, Bloomberg reported that the chain is in advanced discussions to acquire Bonobos, an e-commerce-driven apparel company that designs and sells upscale men’s clothing.
Click here for more.