Global retailer Walmart is set to acquire intimates online retailer Bare Necessities in a move to expand its US eCommerce portfolio.
The deal adds Bare Necessities to its portfolio of digital brands, including Bonobos, Modcloth and ELOQUII.
Walmart US eCommerce Fashion head Denise Incandela said: “As we continue to build our assortment, we are also focused on bringing on the right talent and expertise to drive our fashion business.
“With that in mind, today, I’m thrilled to announce the acquisition of Bare Necessities, a leading intimates online retailer, who will join the Walmart US eCommerce portfolio.”
Following the transaction, Bare Necessities will operate its website and run as a standalone and complementary brand to Walmart’s eCommerce sites.
The retail major is planning to integrate the Bare Necessities’ product offerings onto Walmart.com and Jet.com.
In addition, the intimates online retailer CEO and co-founder Noah Wrubel will continue to operate the company as well as lead intimates category for both Walmart.com and Jet.com.
Incandela added: “I couldn’t be more excited to welcome Noah, Bare Necessities COO and co-founder Bill Richardson, and the rest of the Bare Necessities team to the Walmart family.
“I look forward to working with them to build a best-in-class intimates customer experience across Walmart US eCommerce.”
The companies have not disclosed the terms of the transaction.
Established in 1998, Bare Necessities offers a range of intimates such as bras, swimwear, shapewear and sleepwear under more than 100,000 SKUs and 160 brands.
Earlier this month, Walmart announced its plans to purchase women’s apparel brand Eloquii in the US for an undisclosed amount. It will allow Walmart to tap into the $21bn women’s plus-size market.