Walmart is setting their eyes on a Zeekit takeover
The move would give the retailer better access to the fashion industry.
Walmart Inc (NYSE: WMT) announced plans to acquire Zeekit. The planned takeover of the virtual dressing room is part of Walmart's drive to meet customer shopping needs online. Denise Incandela, VP (private brands and apparel - US Operations) of Walmart, said customers could use the virtual dressing room to sample items from national brands and private labels. Its own brands include Levi Strauss, Champion and Free People. Customers can upload their pictures or select photos of various models that represent their skin tone, figure and height on Walmart's technology-driven website. You can visually experience how the clothes would fit and improve their appearance and attractiveness online, just like in a physical store. Customers can also share their virtual outfits with others to get friends' opinions before making a purchase. Denise went on to say that in addition to improving the feel and experience of customers, the company also wants to make online shopping more social. In a post on the website, she said that trying on clothes virtually is a crucial factor. It helps customers understand what the clothes would look like and fit. According to Denise, Zeekit will serve its significant customer base with an immersive, comprehensive and personalized experience. Walmart, the world's largest retailer, is known for selling simple t-shirts, groceries, and household items. However, it has also focused on buying clothing companies such as Eloquii, ModCloth, and Bonobos for the purpose of increasing profits. Walmart presented its own brands such as Free Assembly and Sofia Jeans. The company made a pact with ThredUp, a fashion resale website, to offer gently used clothing and accessories at a wallet-friendly price. With this latest entry, the company aims to compete with online retailers like Amazon. Amazon accounts for 12% of US apparel sales, outperforming Walmart. Also, Amazon accounts for 35% of online apparel sales. Walmart has apparel sales of $ 33.43 billion in 2020, compared to Amazon's $ 41.15 billion in sales. Walmart's clothing lines include budget brands such as George, Time, and Tru. Upscale brands such as Free Assembly, Scoop, Sofia Jeans, and Eloquii Elements were also considered.