Walmart acquires lingerie retailer Bare Necessities

Walmart acquires lingerie retailer Bare Necessities

Walmart Inc has acquired online lingerie retailer Bare Necessities for an undisclosed amount, the company said on Friday, as it works to boost its competitive standing in U.S. e-commerce and appeal to younger shoppers.

FILE PHOTO: Walmart store in Encinitas, California
FILE PHOTO: A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo

NEW YORK: Walmart Inc has acquired online lingerie retailer Bare Necessities for an undisclosed amount, the company said on Friday, as it works to boost its competitive standing in U.S. e-commerce and appeal to younger shoppers.

The deal closed on Friday, the retailer said in a blog post.

Earlier this month, Walmart acquired Eloquii, a fashion startup that sells plus-sized clothing.

(Reporting by Nandita Bose in New York)

Source: Reuters

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