Walmart to acquire online plus-size clothing brand Eloquii
Walmart has announced plans to acquire online plus-size clothing brand, Eloquii, for an undisclosed amount, marking the addition of another digitally native brand to its portfolio.
Known for its trend-driven, fashion-focused assortment, Eloquii caters to women who wear size 14 and up, a segment that Walmart senior vice president of digital consumer brands Andy Dunn described as “historically underserved and neglected”.
“Today we stand in solidarity with her by acquiring a brand whose sole focus is to exceed her expectations,” he said.
Eloquii is the latest digitally native brand that Walmart has acquired in recent years, as it looks to reach younger consumers and compete with Amazon. The bricks-and-mortar retailer’s digital portfolio includes Bonobos, ModCloth and Allswell.
Dunn said these businesses are an “important part of [Walmart’s] because they offer unique and differentiated products while building strong relationships with customers”.
“[We] are laser focused on developing a portfolio of direct to consumer brands with a unique assortment you can’t find anywhere else,” he said.
Dunn noted that digitally native brands tend to respond quickly to customer feedback, citing Eloquii’s move into workwear after discovering that 80 per cent of its customers work full-time.
“What makes a digital brand great is how it converts a pain point in the market into a source of delight for the customer. It means creating real connections with people, building a spirited and interactive following, and offering customers an experience they can’t get anywhere else,” he said.
Eloquii CEO Mariah Chase and the team will join Walmart staff.