Walmart acquires ShoeBuy
The amount involved in the deal should reach 70 million US dollars
Just four months after the retail giant deal with e-commerce site Jet.com, Walmart confirmed the acquisition of another online player.
ShoeBuy, founded in 1999 and is headquartered in Boston, is a leading online footwear, clothing and accessories retailer. ShoeBuy carries more than 800 brands and over a million items including footwear for women, men and kids, as well as clothing and accessories, such as outerwear and handbags. The deal to acquire the 16 year old online retailer reached 70 million US dollars.
The website is expected to operate as a standalone but complementary component to Jet.com, and Walmart ShoeBuy CEO Mike Sorabella, his executive team and ShoeBuy’s 200-plus employees will continue to be based in Boston.
With the new deal, Jet will gain the experience of a well-established ecommerce player in the footwear industry, with a vast experience in the online shopping experience. ShoeBuy brings access to a large assortment of products, strong industry relationships, and rich content that will further enhance our customer experience.
ShoeBuy, founded in 1999 and is headquartered in Boston, is a leading online footwear, clothing and accessories retailer. ShoeBuy carries more than 800 brands and over a million items including footwear for women, men and kids, as well as clothing and accessories, such as outerwear and handbags. The deal to acquire the 16 year old online retailer reached 70 million US dollars.
The website is expected to operate as a standalone but complementary component to Jet.com, and Walmart ShoeBuy CEO Mike Sorabella, his executive team and ShoeBuy’s 200-plus employees will continue to be based in Boston.
With the new deal, Jet will gain the experience of a well-established ecommerce player in the footwear industry, with a vast experience in the online shopping experience. ShoeBuy brings access to a large assortment of products, strong industry relationships, and rich content that will further enhance our customer experience.
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