A deal that was first rumored in October between Walmart (Bentonville, Ark.) and Lord & Taylor (New York) has been made official.
Walmart has partnered with the department store’s parent company, Hudson’s Bay Co. (Toronto), to sell Lord & Taylor brands in an online “flagship store,” reports CNBC. The landing page for the brand will launch on Walmart.com this coming spring.
The move comes as Walmart re-strategizes to compete with Amazon’s luxury e-commerce business.
"Walmart.com is a shopping destination that reaches a wide base of customers looking for premium fashion brands," Lord & Taylor President Liz Rodbell said in a statement. "As retail continues to change, this flagship store creates enormous growth opportunities for Lord & Taylor and our brand partners."