Walmart Buys Art.com, Boosting Home Decor Sector

Discussion in 'Industry News' started by Calliers, Dec 7, 2018.

  1. Calliers

    Calliers HH's MC Staff Member

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    Walmart has announced that it is planning to buy Art.com to boost its home decor business.

    According to CNBC, a source said the size of the acquisition is similar to Walmart’s other recent deals and that Art.com has been bringing in more than $300 million in sales annually.

    “Art.com is the world’s largest online retailer in the art and wall décor category, and the addition of its two million curated images – including a growing exclusive assortment – will create an even richer, deeper customer experience across our home category,” wrote Anthony Soohoo, SVP and group general manager for Walmart U.S. eCommerce, in a press release.

    Art.com offers a wide-ranging assortment of art, from affordable and chic posters to limited-edition prints and loft art pieces.
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    Source: pymnts
     

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