Walmart accelerates online push with another acquisition

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Walmart accelerates online push with another acquisition

By Marianne Wilson - 12/06/2018
Walmart is beefing up its home category by adding art to its palette.

The discounter announced that it plans to acquire the assets of Art.com — the world’s largest online retailer in the art and wall décor category with two million curated images — including its catalog, IP, trade name, and U.S. operations.

Terms of the deal, which expected to close early next calendar year, were not disclosed.

Founded in 1998, Art.com features a wide assortment that ranges from affordable posters to limited edition prints and art pieces. It also offers a growing exclusive assortment and personalized print-on-demand capabilities.

The “wall” is critical to completing the home and, as a $10 billion annual market in the U.S., Walmart sees art and wall décor as fundamental to winning the home, the company stated in a fact sheet about the acquisition.

Similar to its strategy with such previous acquisitions as Eloquii and Mod Cloth, Walmart plan to operate the assets of Art.com as a standalone and complementary site. Eventually, items from Art.com will be added to Walmart.com, Jet.com, and Hayneedle.com.

“This announcement is just another example of how we’re establishing Walmart.com as a specialty retail destination for the home – giving customers the inspiration and confidence to make a beautiful home possible for everyone,” said Anthony Soohoo, senior VP and group general manager, home, Walmart U.S. eCommerce.

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