WAL-MART Will Further Launch Its Own Clothing Brand

Buying in a big way

In the case of electricity providers, the world's largest retailer Wal-Mart Inc. (NYSE:WMT)

It will further introduce its own clothing.

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According to the world clothing and shoe net, on Tuesday, WAL-MART said it will launch four own clothing brands, including women's wear brand Time & Tru, XXXX women's wear Terra & Sky, children's wear brand Wonder Nation and menswear brand George.

The four brands were on sale in the US stores and Walmart.com websites in March 1st.

Deanah Baker, senior vice president of garment business at Walmart U.S., said the new brand was carefully considered by the company to meet the needs of the group consumers.

According to WAL-MART, the four brands are priced at a low price of $5-30.

The launch of the new clothing brand is considered a strategy for the retail giant to compete further with Amazon.com Inc. (NASDAQ:AMZN).

WAL-MART said it is still the largest clothing retailer in the United States, but according to the latest survey by Coresight Research, Amazon's clothing business is becoming more and more popular. Previously, investment banks believe that Amazon will become the largest clothing retailer in the United States this year.

WAL-MART has continued to invest in fashion business in the past two years. At the end of the first quarter, the group will set up an independent website for Walmart.com, to sell specialized fashion and home brands, and implement the cooperation agreement with Lord / s Taylor Department of the US / Canada department store giant Hudson 's Bay Co. (TSE:HBC) Hudson Bay Group (hereinafter referred to as HBC).

Prior to that, the company also bought Bonobos Inc. ($310 million), Shoebuy ($70 million), Moosejaw ($51 million) and Modcloth (paction size of $5100-7000), which cost about $500 million.

The above acquisitions were completed under the leadership of Marc Lore, Marc Lore was accompanied by Jet.com after being bought by WAL-MART for a high price, and was responsible for WAL-MART's e-commerce business.

In the past holiday season, GMV and sales growth fell sharply to 23% and 24% respectively in the four quarter of Walmart US, and the US giant's stock price plummeted. In February 21st, the stock price plunged 10.18% on a single day, the largest in 30 years and 31 billion 600 million dollars in market value.

In the three quarter, Walmart US's online business GMV and sales growth two data were 50% and 54% respectively.

However, at the earnings conference, Doug McMillon McMillon, the group's chief executive, explained that the Jet.com, which had been purchased by the company for $3 billion 300 million, is unlikely to sustain high growth and will provide data support to the group and recognize consumer demand.

He also said that Jet.com will face a period of adjustment and focus on specific markets and opportunities to regain growth in the future.

He also said that the company is pferring more marketing expenses from Jet.com to Walmart.com to link young consumers with larger business base and take Walmart.com development as a priority.

For the current 2019 fiscal year, WAL-MART expects the sales growth of Walmart US online business to be 40%.

More interesting reports, please pay attention to the world clothing shoes and hats net.