Walmart, refusing to slow down, announced the acquisition of Bare Necessities, adding an online intimates retailer to its list of ecommerce properties. This news comes hot on the heels of the retail giant’s October purchase of plus-sized fashion retailer Eloquii.
Bare Necessities, founded in 1998, offers more than 100,000 items from over 160 brands. Terms of the deal were not disclosed.
“The acquisition of Bare Necessities fits well into our broader acquisition strategy which includes two different types of companies: categories leaders with specialized expertise and assortment that can help enhance the customer experience on Walmart.com and Jet.com,” said Denise Incandela, head of fashion for Walmart U.S. Ecommerce. “[And] digital brands that offer unique products customers can’t find anywhere else.”
Following the model of its other brand buys, Bare Necessities will continue to operate on its site as a standalone entity. Over time Walmart will work to integrate the Bare Necessities’ assortment onto Walmart.com and Jet.com.
Bare Necessities CEO and co-founder Noah Wrubel will lead the intimates category for both Walmart.com and Jet.com while continuing to run his company.
The company joins a Walmart brand and marketplace stable that now includes Jet.com, Moosejaw, Eloquii, Hayneedle, Shoes.com, Modcloth, Bonobos and others.