And for Lord & Taylor the deal is also about traffic - department stores are struggling, and opening a store on Walmart.com will give them a bunch of new eyeballs (and potential shoppers) they otherwise wouldn't have gotten.
Following weeks of speculation, the pair confirmed today they have agreed to an online partnership that will see that Lord & Taylor launch a flagship store on Walmart.com in spring 2018.
High-end fashion has been a category notorious for being hard to sell online, especially as expensive brands have been reluctant to let sites like Amazon and Wal-Mart carry their items.
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"Our goal is to create a premium fashion destination on Walmart.com", Denise Incandela, head of fashion for Wal-Mart's USA e-commerce division, said in a statement. Department stores have lost customers, and Lord & Taylor's parent company is selling the NY flagship building and will lease back some of the space. We're excited that Lord & Taylor is part of the team we're working with as we continue to create a new Walmart.com. To that end, Lord & Taylor will have a dedicated store on the Walmart app.
Discount retailer Walmart says it will soon offer premium Lord & Taylor fashion brands on its American website.
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