- Marjorie van Elven |
Walmart is expanding its fashion offering even more. After buying Modcloth, Bonobos and Allswell, the giant retailer has announced its plans to acquire plus-size brand Eloquii for an undisclosed amount. The label offers womenswear in sizes 14-28.
Founded in 2011 under apparel company The Limited, Eloquii was discontinued in 2013 and re-launched as an independent online brand one year later. Currently, it operates five stores in addition to its e-commerce. Its revenue grew threefold since 2015, according to a statement published on Walmart’s blog.
Walmart explained the transaction by noting that the plus-size women’s apparel market is worth 21 billion US dollars, and represents one of the fastest growing segments in womenswear. “Today, more than half of women aged 18-65 in the US wear size 14 or higher. However, these customers have been historically underserved”, said Andy Dunn, Walmart’s Senior Vice President of Digital Consumer Brands, on the blog.
Eloquii’s CEO, Mariah Chase, and her team will be joining Walmart. The company did not disclose Chase’s new job title.
Picture: Eloquii Facebook