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  • Art.com Acquired by Walmart

    December 6, 2018

    REUTERS – Walmart Inc on Thursday said it has acquired online retailer Art.com for an undisclosed amount to boost its home decor business and expand its online offering, as part of the retailer’s efforts to attract more millennials.

    Walmart has been buying up small online retailers for more than two years in an attempt to reach younger customers who do not normally shop on its website, and recover ground lost to competitors like Amazon.com Inc.

    Art.com is one of the largest online sellers of art and wall decor globally with 2 million items for sale, according to Walmart’s blog.

    Walmart, which is expected to become the third largest e-commerce retailer by sales this year, will continue to run Art.com as a standalone operation and will eventually add its products to its online offerings.

    Click here for the full press release. Additional information: CNBC, Walmart.

     



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