When we think of Walmart, we don’t necessarily think of high fashion, but the retailer just strengthened its position as number one in the US apparel market with plans to acquire plus-size brand Eloquii. Originally, being purchased for an undisclosed amount, Recode now states the department store is forking up $100 million for the startup company.
Haven’t heard of it? Originally part of The Limited, Eloquii was relaunched in 2014 as a digitally native online retailer of trend-driven fast fashion. In an effort to compete with Amazon, the acquisition will bring in a new demographic of consumers, different from the core Walmart shopper; namely a younger consumer with a higher disposable income.
And if you haven’t been paying attention, this isn’t the first trendier brand Walmart has added to their portfolio. Since 2016, the department store has also bought Moosejaw, ModCloth, and Bonobos, the only difference being that Eloquii focuses solely on plus-size clothing. According to Forbes, the women’s plus-size market has been growing faster than any other apparel market in the US with retailers selling $21.4 billion in 2016, so this is undoubtedly a great move.
Not only is Walmart modernizing their offering, but they’re also now reaching a market that has traditionally been underserved. “We got excited about this problem,” Walmart’s Dunn told Recode in an interview. “[The plus-sized market] has been dramatically underserved and there’s an amazing opportunity to go and bring delight to it.”
Whether or not Eloquii will be sold through Walmart.com or it’s millennial-focused subsidiary, Jet.com is still undecided… we’re just going have to wait and see how the new acquisition plays out. For now, take a look at some of our favourite styles from Eloquii below.
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London calling! ?? @alexmichaelmay wears our Striped Ottoman Tie Back Midi Dress #XOQ
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