Walmart purchases Art.com to add to its gallery wall of e-commerce acquisitions
Walmart acquired Art.com last week, adding the company’s home decor business to its growing roster of acquisitions.
To challenge Amazon’s e-commerce dominance, Walmart has spent hundreds of millions acquiring successful companies that enhance the Big W’s e-commerce “category expertise” and “assortment” — and Art.com looks great next to past buys like Shoes.com, ModCloth, and Bonobos.
More than just a pretty domain name
According to Walmart, Art.com does $300m in annual revenue. The 20-year-old company is “the world’s largest online retailer in the art and wall decor category,” according to Walmart’s release.
But more importantly, Art.com gives Walmart a strong (and immediate) foothold in the $10B art and wall decor market.
Walmart plans to operate Art.com as its own domain and include its products on Walmart’s site, much like its other recent acquisitions.
Amazon kills off its e-tail rivals, Walmart just buys them
Over the next few months, Walmart plans to continue improving its e-commerce sites, especially for home goods and fashion. But Walmart’s acquisition streak is just getting started.
“Just four brands aren’t going to do it, but imagine 40,” Walmart’s head of US e-commerce, Marc Lore, explained to investors earlier this year.