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Walmart Confirms Plans to Acquire Art.com

Walmart store exterior 1 725 x 500.jpg

Walmart has announced its intention to acquire the Art.com, the world’s largest online retailer in the art and wall décor category.

Text from the announcement follows:

Ten months ago, Walmart unveiled a new digital shopping experience that provides customers a more seamless way to buy for their home. Since then, we’ve learned even more about how our customers want to shop, what inspires them, and the process they undergo to create a space they love.

A big factor in creating that space starts with the wall. When decorating, redecorating, or even just infusing some new life into a room – many times the best and lowest-priced place to start is by hanging a piece of art on the wall. In an effort to give our customers even more inspiration and choice, I’m thrilled to announce our plans to acquire the assets of Art.com.

Art.com is the world’s largest online retailer in the art and wall décor category, and the addition of its two million curated images – including a growing exclusive assortment – will create an even richer, deeper customer experience across our home category. 

Art.com’s wide-ranging assortment, from affordable and chic posters for your first apartment to limited edition prints and loft art pieces for your new home, helps customers like Jenn, make their house a home without breaking the bank. The wall also allows us to create even more personalized experiences for her in the future, as we now have a better understanding of design aesthetics, color preferences, complementary pieces – like rugs, furniture, etc. – and, even insight into the size of the space.

We plan to operate the assets of Art.com as a standalone and complementary site – and then add their wide-ranging assortment to Walmart.com, Jet.com, and Hayneedle.com. This announcement is just another example of how we’re establishing Walmart.com as a specialty retail destination for the home – giving customers the inspiration and confidence to make a beautiful home possible for everyone. I’m so excited to welcome Art.com as a part of that mission.

As we continue to improve the customer experience in Home and increase our assortment and growth in long-tail categories, like home décor – Walmart has announced plans for its latest acquisition. Here are the key facts about the deal:

What was announced today?

  • Walmart plans to acquire Art.com’s assets – including catalog, IP, trade name, and U.S. operations – for an undisclosed amount.
  • The deal is expected to close early next calendar year.

Who is Art.com?

  • Art.com is the largest online retailer in the art and wall décor category with 2 million curated images, including a growing exclusive assortment.
  • Founded in 1998, Art.com’s vision is to make life better with art.
  • Art.com has a deep understanding of the art and wall décor category allowing for a more personalized shopping experience overall – from affordable and chic posters for your first apartment to limited edition prints and loft art pieces for your new home.
  • Art.com also has best-in-class on-demand and customization capabilities with the majority of their inventory being printed on demand at the time of the customer ordering, and all servicing is hand-crafted on site – from custom framing to mounting on canvas and wood.

How will Art.com fit into Walmart’s business?

  • Our acquisition strategy consists of two complementary parts:

1. Acquiring companies that strengthen Walmart.com and Jet.com by enhancing both their category expertise and assortment (e.g., Shoes.com and Moosejaw). Art.com fits into this part of the strategy.
2. Acquiring digital brands that are unique and differentiated, offering products and experiences you can't find anywhere else. 

  • The “wall” is critical to completing the home and, as a $10B annual market in the U.S., Walmart sees art and wall décor as fundamental to winning the home.
  • Walmart plans to operate Art.com’s assets as a standalone and complementary site – and then add their wide-ranging assortment to Walmart.com, Jet.com, and Hayneedle.com. This will enhance the customer experience with millions of additional choices for art, wall décor, and personalized print-on-demand capabilities while creating a richer, deeper shopping experience across the Home category.

Source : Walmart

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07 December 2018

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