Walmart accelerates online push with another acquisition
Walmart is beefing up its home category by adding art to its palette.
The discounter announced that it plans to acquire the assets of Art.com — the world’s largest online retailer in the art and wall décor category with two million curated images — including its catalog, IP, trade name, and U.S. operations.
Terms of the deal, which expected to close early next calendar year, were not disclosed.
Founded in 1998, Art.com features a wide assortment that ranges from affordable posters to limited edition prints and art pieces. It also offers a growing exclusive assortment and personalized print-on-demand capabilities.
The “wall” is critical to completing the home and, as a $10 billion annual market in the U.S., Walmart sees art and wall décor as fundamental to winning the home, the company stated in a fact sheet about the acquisition.
Similar to its strategy with such previous acquisitions as Eloquii and Mod Cloth, Walmart plan to operate the assets of Art.com as a standalone and complementary site. Eventually, items from Art.com will be added to Walmart.com, Jet.com, and Hayneedle.com.
“This announcement is just another example of how we’re establishing Walmart.com as a specialty retail destination for the home – giving customers the inspiration and confidence to make a beautiful home possible for everyone,” said Anthony Soohoo, senior VP and group general manager, home, Walmart U.S. eCommerce.
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