Walmart.com teams up with upscale Lord and Taylor
NEW YORK (AP) — Walmart will devote a section on its website to upscale Lord & Taylor, the latest strategic partnership as retailers make alliances.
The initiative announced Monday will start next spring. Lord & Taylor hopes it’ll attract new customers already buying higher-end products on walmart.com. For Walmart, which has bought trendy fashion brands like ModCloth and Bonobos as it tried to broaden its customer base, the partnership is another move toward trying to create a premium online fashion destination.
Neither company would disclose the financial details of the arrangement.
Walmart’s big push to expand online comes as it tries to position itself to challenge Amazon. Department stores have lost customers, and Lord & Taylor’s parent company is selling the New York flagship building and will lease back some of the space.