Wal­mart buys on­line lin­gerie re­tailer Bare Ne­ces­si­ties

The Times Herald (Norristown, PA) - - BUSINESS - By Anne D’in­no­cen­zio

NEW YORK >> Wal­mart says it’s buy­ing on­line lin­gerie re­tailer Bare Ne­ces­si­ties, the lat­est ac­qui­si­tion in its niche-brand buy­ing spree.

Wal­mart de­clined to dis­close how much it’s pay­ing for Bare Ne­ces­si­ties, but says the deal will help deepen its ex­per­tise in the world of bras, swimwear and shapewear.

The com­pany said Fri­day that Bare Ne­ces­si­ties will re­main as a stand-alone site. As part of the ac­qui­si­tion, Noah Wrubel, CEO and co­founder of Bare Ne­ces­si­ties, will lead the in­ti­mates area for both Wal­mart.com and Jet.com, while also con­tin­u­ing to run Bare Ne­ces­si­ties.

Wal­mart is aim­ing to at­tract younger, more af­flu­ent shop­pers with its string of ac­qui­si­tions. Two years ago, it bought Jet.com for more than $3 bil­lion and since then it’s been buy­ing smaller on­line brands in­clud­ing Bono­bos and Moose­jaw.

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