US-based retail giant, Walmart has acquired Eloquii, brand that produces clothes for plus size women, to extend its apparel offerings on its online marketplace. Although both the involved parties did not reveal the details about the acquisition, it is being reported that the deal is around worth US $ 100 million.
Notably, the acquisition has added to the portfolio of brands owned by the world’s biggest brick-and-mortar brand, Walmart, which includes labels such as, ModCloth, Bonobos and Allswell.
Eloquii was started back in 2011 by the teen retailer, the Limited. But two years later it relaunched itself as an independent label. At present, the brand is home to about 100 workers and Mariah Chase, CEO, Eloquii affirmed the media that these employees will continue to work in their present regions, while some executives will join Walmart’s US e-commerce organisation.
As per the NDP Group’s survey, shoppers in America spent US $ 21.4 billion on women’s full-sized apparel in 2016 and it has predicted that the market will grow at an average of 4 per cent each year through 2020.
Going by this trend, other retailers in the United States have also started to invest in women’s full-sized garments. Kohl, announced last month that it will soon launch its own private apparel label, EVRI.
Target Corporation, another leading retailer in the country has also revealed its vision to promote its exclusive plus-sized brands Ava & Viv by doubling the number of stores in which they are currently available.
