Dick’s Sporting Goods on Wednesday inked a deal to grow its outdoor credentials by acquiring Moosejaw from Walmart, which has recently been selling off digitally native brands after a years-long buying spree.
Bringing Moosejaw in-house will enhance Dick’s outdoor portfolio, where the Public Lands store concept it launched in September 2021 with a location in Pittsburgh serves as the gateway to the retailer’s specialized assortment of apparel, shoes, gear and other goods made to be enjoyed outside. Footwear brands carried on Moosejaw.com include Oboz, Birkenstock, Keen, Hoka and Merrell.
Former NPD analyst Matt Powell, who now runs his own shop called Spurwink River, said the deal marks a “win/win” for the outdoor sector.
“Dick’s is a trusted partner to many of these brands and has a clear understanding of the outdoor industry,” he told Sourcing Journal. He went on to say that Moosejaw will benefit from Dick’s “e-commerce expertise” while the larger company will gain the digital native’s valuable customer file.
“We admire what Moosejaw has accomplished over the past 30 years as leaders in the outdoor industry and look forward to the opportunity to share insights and learn from one another,” Todd Spaletto, Public Lands’ president and Dick’s Sporting Goods’ senior vice president, said. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers.”
Walmart acquired 30-year-old Moosejaw in 2017 when it was trying to expand its online presence under Jet.com co-founder Marc Lore after the mass merchant bought his company a year earlier for $3.3 billion. But Walmart pulled the plug on troubled Jet.com in 2020, with Lore leaving America’s largest retailer the following year. Other digitally native brands acquired by Walmart under Lore’s tenure include Bare Necessities, Shoes.com and ModCloth. Delta Galil has since taken over Bare Necessities while Shoes.com subsequently sold to a financial investor. ModCloth was taken over by Go Global Retail, before finding itself under new ownership following its sale to Nogin.
The terms of the Moosejaw transaction, including purchase price, were not disclosed. The deal is expected to close in March 2023.
Additional reporting by Jessica Binns.