While Walmart’s acquisitions of ModCloth, Jet, Bonobos appear like a game of catch up to the rest of the industry, Marc Lore, president and CEO of Walmart Ecommerce US, said there’s a bigger strategy at play.
Part of that plan is bringing together the knowledge of all these digitally native brands into the world of Walmart, shared Lore at Shoptalk, a retail conference held in Las Vegas.
“[We’re] trying to create a portfolio of these brands that give us proprietary content for a reason for [a] millennial to come shop inside the Walmart ecosystem,” Lore said “We’re not going out making billion dollar acquisitions.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in