Walmart has looked at acquiring New York-based luggage startup Away.
In the past few years, Walmart has bought up a string of smaller consumer companies in a quest to become the “Netflix of e-commerce” — and a direct competitor with Amazon.
Multiple people said that Walmart has taken meetings with many successful direct-to-consumer startups in recent months as part of the retail giant’s plan to buy up more “digitally native, vertically intergrated” startups.
Walmart looked at acquiring luggage maker Away and held several meetings with the startup, Business Insider has learned. It’s unclear if the talks are still ongoing.
Known typically as a low-cost retailer, Walmart is now seeking to appeal to a higher-end, urban shopper. To do so, it’s made a number of acquisitions in the last several years, including e-commerce company Jet.com, women’s indie clothing brand ModCloth, and men’s clothing company Bonobos. Just last week, the company announced that it had bought up plus-sized women’s brand Eloquii.
Andy Dunn, head of Walmart’s digital consumer brands and Bonobos founder, told CNBC in September that Walmart will continue to buy brands, just as Netflix has invested in television and movie content.
Away isn’t the only company that Walmart …read more
Source:: Businessinsider – Technology