Walmart’s just like you — sometimes they see something they want and they buy it.
Lately they’ve been buying brands in their ongoing quest to beef up their online store and challenge Amazon.
Their latest buy? Bare Necessities — the No. 2 online lingerie retailer.
Bare Necessities has been selling a massive selection of lingerie online for 20 years.
They carry more than 100,000 different items — bras, swimwear, shapewear and sleepwear from 160 different brands like Calvin Klein, SPANX, Hugo Boss, Armani and more than 160 others.
Like another recent Walmart purchase, Eloquii, Bare Necessities claims to have an “unmatched” inventory of plus-size intimate apparel — with bands that go up to 56 and cups as large as O.
As Victoria’s Secret struggles, Walmart looks to win over more bra shoppers.
While L Brands closes down a number of Victoria’s Secret stores (sad face), Walmart hopes to snag some of their customers with the expertise of Bare Necessities, which has enjoyed exponential growth over the last few years.
With the buyout, Walmart also gets the store’s CEO/co-founder, who will run Bare Necessities as well as the intimates strategy for Walmart.com and Jet.com.
Bare Necessities also owns the sexy-lingerie-only Lingerie.com — no word as to the future of that site.
Walmart will still win the price wars on bras, but Bare Necessities is more about style.
There’s no telling as to whether prices at Bare Necessities will be affected after joining the Walmart family.
But for Walmart, this is more about style than savings — a strong push to be a go-to retailer for apparel online.
But just so you know the difference:
Walmart Secret Treasures T-Shirt Bra — $8.50
Victoria Secret T-Shirt Bra — $39.50
Bare Necessities Natori Understated T-Shirt Bra — $66
Bare Necessities will continue to operate its website, but expect their products to also appear on Jet.com and Walmart.com.
Just like Moosejaw opened its own curated shop within Walmart.com in August, it looks like Walmart is going to use the same playbook for Bare Necessities.
Walmart’s been on a store-buying shopping spree lately.
Since buying Jet.com for a paltry $3.3 billion in 2016, Walmart has snatched up a number of apparel and lifestyle brands to beef up Walmart.com — including plus-size fashion retailer Eloquii, Moosejaw outdoor gear, ShoeBuy footwear and apparel, ModCloth women’s clothing and Bonobos men’s apparel.
It’s a play to fight off Amazon — who looks to overtake Walmart when it comes to apparel.
Not only is Walmart collecting successful stores — they’re collecting the experts and connections they need to aggressively expand online sales/selection in an Amazon world.
Experts say the recent buys are Walmart’s feverish attempts to keep Amazon from beating them in apparel sales — which a 2017 Morgan Stanley report predicts will happen this year.