Walmart Continue To Sell Items From Bare Necessities & Shoes

Continuing Its Strategy Of Jettisoning Some Of The Digital Assets It Has Acquired In Recent Years To Focus On Its Main Website, Walmart

Walmart-Continue-To-Sell-It

The world’s biggest retailer is selling footwear website Shoes.com to private-equity firm CriticalPoint Capital, while lingerie brand Bare Necessities will be acquired by Delta Galil Industries Ltd., an Israeli apparel maker that also owns the 7 for All Mankind denim business. Terms of the deals were not disclosed.

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The divestments follow Walmart’s sale of indie apparel brand ModCloth in October, and its decision earlier this year to shutter the Jet.com e-commerce site. After acquiring various brands and sites in recent years, Walmart’s U.S. online business now wants to simplify the shopping experience and better compete with Amazon.com Inc.

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“The number of customers we’re serving in these categories on Walmart.com, along with the corresponding sales volume, is very different than before each acquisition,” Walmart said in an e-mailed statement.

Walmart isn’t currently considering selling any of its remaining e-commerce sites, a roster that also includes men’s apparel seller Bonobos, according to a person familiar with the company’s plans. It could also have its hands full on the acquisition front as it pursues a bid with partner Microsoft Corp. for the U.S. operations of the TikTok app.

Walmart will continue to sell items from Bare Necessities and Shoes.com through its third-party marketplace site, which carries products from a wide variety of merchants. Delta Galil separately announced it was acquiring Bare Necessities Aug. 25.

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This news was originally published at livemint.com

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