Walmart late on Friday announced it has acquired online lingerie retailer Bare Necessities for an undisclosed amount, just 10 days after the retail behemoth announced it had purchased plus-size fast-fashion label Eloquii.
“The acquisition of Bare Necessities fits well into our broader acquisition strategy, which includes two different types of companies: 1) category leaders with specialized expertise and assortment that can help enhance the customer experience on Walmart.com and Jet.com (think Hayneedle, Moosejaw and Shoes.com) and 2) digital brands that offer unique products customers can’t find anywhere else (think Bonobos, Modcloth and the recently-acquired ELOQUII). Bare Necessities fits into the former,” said Denise Incandela, head of fashion, Walmart U.S. e-commerce, in a blog post announcing the Bare Necessities purchase.
The 20-year-old Bare Necessities “offers more than 100,000 SKUs from more than 160 brands, including an extensive assortment of bras, swimwear, shapewear and sleepwear,” according to Incandela, who said the acquisition brings to Walmart “deep category expertise, a content offering designed to educate intimates shoppers, as well as strong brand relationships and operational capabilities.”
Walmart has been on a buying spree in the past year, with acquisitions including ShoeBuy, Moosejaw, Bonobos and ModCloth, in addition to Eloquii, as well as partnerships with Ellen DeGeneres and Lord & Taylor.
Incandela said Bare Necessities will operate as a “standalone and complementary brand” and eventually integrate some assortment in Walmart.com and Jet.com.
Noah Wrubel, Bare Necessities’ CEO and co-founder, will remain at the helm, as well as expand his role to lead the intimates category for both Walmart.com and Jet.com.
Walmart said the deal closed on Friday and did not disclose financial details.