Under the leadership of CEO Doug McMillon and e-commerce chief Marc Lore, Wal-Mart is steadily closing the gap with rival Amazon.com Inc.
With Wal-Mart Stores Inc working strategically to gain the upper hand against the world’s biggest online retailer, it has announced that it has acquired Moosejaw, an online outdoor clothing and gear retailer for $51 million in an all-cash deal.
Clearly Wal-Mart is gearing up to fight Amazon.com since this acquisition marks its third deal in just over six months. In August 2016, Wal-Mart acquired Jet.com for more than $3 billion and in in late December, Jet.com acquired ShoeBuy, an online footwear retailer, for nearly $70 million.
Going back 5 years before the Jet.com deal, Wal-Mart acquired more than 15 startups for a total of $3.1 billion. It did not disclose the amount it spent on those individual acquisitions.
As for Moosejaw, it is a Michigan-based online retailer with ten brick-and-mortar stores which sell outdoor apparel and gear from makers such as North Face and Patagonia and has a “strong relationships” with these brands.
“Apparel and accessories is now the number one category for digital commerce, according to comScore Inc (SCOR.PK), and we gain the experience of another well-established e-commerce player, this time in the active outdoor category,” said Wal-Mart’s statement.
After the acquisition, Moosejaw will continue to operate its own store and site and will be run as a separate brand.
Under the leadership of CEO Doug McMillon and e-commerce chief Marc Lore, Wal-Mart has been aggressively working towards closing the gap with Amazon.com Inc.
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