The acquisition of Walmart continues. Just a few months after the ELOQUII and Bare Necessities clothing brands were selected, the company announced Thursday plans to acquire assets from online art and wall decor retailer Art.com. The deal is expected to close in early 2019 and includes the catalog, IP, trade name and US operation of Art.com.
Walmart has not disclosed the amount of the deal, but is expected to agree with Walmart's other recent offers in terms of size. According to CNBC, Art.com had annual sales in excess of $ 300 million.
In his announcement, Walmart Art.com, founded in 1998, refers to "the world's largest online retailer in the art and decor category." "Art.com's extensive lineup also includes two million curated images that customers purchase as posters, prints, and other art works for the home.
The site offers on-demand and customization options, with most of it available for inventory are printed on demand at the time of ordering ̵
The Art.com website includes technologies such as visual search and the ability to visualize art on your own walls Affirm funding and installation by another Walmart partner, Mobile.
Walmart says, The plan is to use the assets of Art.com as standalone and unlisted d to operate the complementary site. In the future, it will also add the Art.com range to Walmart.com, Jet.com and Hayneedle.com. In this way, customers have access to "millions of additional options for art, wall decor and personalized print-on-demand capabilities," says Walmart.
The retailer has its range in long-tail categories, such as home decor – one of the key features of the redesign of the website Walmart.com, which was introduced earlier this year. The updated website offers a more modern, cleaner look and feel, deeper personalization, improved referrals, and adding special shopping experiences in areas like home and fashion.
Art.com is now one of many acquisitions Walmart has undertaken To better capture the e-commerce market in these categories and other areas, ModCloth ($ 75 million), Bonobos ($ 310 million) USD), Moosejaw ($ 51 million), ShoeBuy, Jet.com ($ 3 billion) and Hayneedle to complement the more recent additions to ELOQUII and Bare Necessities.