US retailer Walmart is set to purchase women’s apparel brand Eloquii in the US for an undisclosed amount.
The acquisition will allow Walmart to tap into the $21bn women’s plus-size market. Currently, more than half of women aged 18-65 years in the US wear size 14 or higher.
According to a person familiar with the matter, the value of the transaction is approximately $100m, reported CNBC.
Established in 2011 as part of The Limited, Eloquii offers fashion and on-trend apparel starting at size 14 through its website as well as five stores.
The company re-launched online in 2014 as an independent direct to consumer brand.
Walmart US e-commerce digital consumer brands senior vice-president Andy Dunn said: “This year, we’ve made great progress adding new brands, developing exclusive products, and launching new fashion partnerships.
“As the retail landscape evolves at light speed, we remain firm in our belief that it’s not just about selling brands, it’s also about building brands and customer relationships.
“As such, we are laser focused on developing a portfolio of direct to consumer brands with a unique assortment you can’t find anywhere else. With that in mind, I’m thrilled to announce our plans to acquire Eloquii.”
The deal will strengthen walmart.com and Jet.com platforms by enhancing category expertise and assortment.
In addition, Eloquii sells products through its own digital channel and complements ModCloth and Bonobos brands of Walmart.
Following the transaction, Eloquii CEO Mariah Chase along with her executive team and other 100 employees will join Walmart’s US e-commerce division. Based in Long Island City, New York and Columbus, Ohio, they will report to Dunn.