Lord & Taylor is coming to Walmart.com
Cropped Photo: Mike Mozart / CC BY 2.0
(CNN Money) — Walmart is about to up its fashion game — with a little help from Lord & Taylor.
The two retailers announced Monday that they’re teaming up to launch a “flagship” Lord & Taylor shop on Walmart.com.
“We see customers on our site searching for higher-end items, and we are expanding our business online to focus on adding specialized and premium shopping experiences, starting with fashion,” Denise Incandela, head of fashion for Walmart’s U.S. e-commerce division, said in a statement.
The shop will go live in spring 2018. Lord & Taylor plans to keep running its own website after the launch.
A spokeswoman for the company said it’s too early to provide additional information about what particular items will be available through Walmart.com.
The partnership is a sign of the times. Walmart is making heavy investments in its online operation in order to stay competitive with Amazon. Meanwhile, department stores like Lord & Taylor, which is owned by Hudson’s Bay Company, are trying to shore up online sales amid flagging foot traffic.
In a statement, Lord & Taylor President Liz Rodbell said the deal will allow the brand to reach “a wide base” of new customers.
“As retail continues to change, this flagship store creates enormous growth opportunities for Lord & Taylor and our brand partners,” Rodbell said.
Overall, Lord & Taylor’s parent company — which also owns Saks Fifth Avenue — has been struggling.
Last summer, the company said it would cut about 2,000 jobs across North America, part of a plan to save $350 million by the end of the 2018 fiscal year.
In October, HBC announced that CEO Jerry Storch would step down Nov. 1. An executive search firm has been retained to find his replacement.
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