"We see customers on our site searching for higher-end items, and we are expanding our business online to focus on adding specialized and premium shopping experiences, starting with fashion", said Denise Incandela, the head of fashion for Walmart US e-commerce.
Yes, the odd couple marriage between Lord & Taylor and Walmart.com, expected to debut in the coming weeks, will pull together some disparate brands.
The company's Premium Brands section will include offerings from more than 125 Lord & Taylor brands, including Tommy Bahama, Vince Camuto, Miss Selfridge, and Lucky Brand.
Though Lord & Taylor already has an online shopping property, its audience is a drop in the ocean at 2.2 million compared to Walmart's 101 million.
The deal does offer special advantages for Walmart, which is generally considered a downmarket retail brand, both online and at its almost 12,000 stores worldwide.
The Lord & Taylor flagship store features thousands of trend-right styles, including women's, men's, and kids' clothing, shoes, handbags, accessories, and jewelry, that will be updated regularly. Orders over $35 will be eligible for free two-day shipping. "We are excited for the opportunity to serve exponentially more customers with our premium fashion offerings, including our famous dress selection and many stylish brands". A separate tab will house Walmart's Everyday Brands, which will be "part of Walmart.com's broader fashion destination".
The new premium tab on Walmart.com is the latest in a series of moves by Walmart created to target wealthy shoppers, which the retail giant has historically ignored in favor of customers at the opposite end of the income spectrum.
About Lord & Taylor Founded in 1826, Lord & Taylor is one of America's first department stores.
Lord & Taylor and Walmart both declined to comment on the revenue structure of their partnership. Lord & Taylor is part of the Hudson's Bay Co. portfolio.
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