The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Wal-Mart has acquired the outdoor clothing and gear seller Moosejaw for $51 million as it expands its online offerings.
The cash deal was announced Wednesday. Wal-Mart says Madison Heights, Michigan-based Moosejaw, which is largely online and sells more than 400 brands, will keep operating its site and stores. Its 350-plus employees will stay based in Michigan.
Wal-Mart, which is trying to better compete with online leader Amazon.com, says buying Moosejaw gives it the experience of another well-established e-commerce player with strong industry relationships.
Bentonville, Arkansas-based Wal-Mart also purchased online marketplace Jet.com last year for $3 billion in cash plus $300 million in stock. Wal-Mart's online sales had been slowing over the past two years but notably accelerated during last year's third quarter. It reports its fourth-quarter results next week.
By Anne D'Innocenzio.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.