Walmart (WMT) is keeping up with Target and Kohl's by expanding its brands to help bring in a new target consumer.
Target (TGT) and Kohl’s (KSS) have partnered with outside retailers to bring about a new shopping experience for customers while shopping the retail chains. Target partnered with Ulta Beauty (ULTA) to expand its self-care and beauty products and services. Kohl’s brought in Sephora (LVMHF) to expand its self-care and beauty into the Kohl’s retail experience. Both retailers are committed to expanding these partnerships and increasing the number of stores that house the shop in shop beauty experience.
Walmart may have gotten the memo, and recently expanded the beauty shopping experience to its stores by adding Revolution Beauty. Revolution Beauty is a British brand that has skincare and cosmetics that are cruelty-free and are a higher quality than that of the other mass brands that Walmart has on its shelves. Walmart is taking a page out of what has worked for its competitors in expanding the products and shopping experiences for its customers.
Walmart
Walmart Adds a New Clothing Line
Walmart may have a lot of different products, but one thing it has lacked, and it is working to make a change to is its maternity clothing options. Walmart and Marquee Brands’ Destination Maternity have partnered to launch a spring and summer collection of maternity clothing exclusively at Walmart stores and at Walmart online.
Destination Maternity clothing offers an affordable and trendy option for women as they shop for something that is comfortable, affordable and stylist during what may be an uncomfortable season. The Destination Maternity clothing line will have dresses, bottoms, tops, and intimate apparel as well as activewear. The clothing will come in sizes small to XXXL to serve as many moms and moms-to-be to as possible.
"Walmart is continuing to establish itself as a fashion destination, and that includes expanding our assortment of quality, on-trend apparel and accessories for new and expectant mothers," said Berch Schultz, Walmart’s vice president Merchandising, Intimates. "As we continue to expand our assortment of national brands, we're excited to offer Destination Maternity exclusively to Walmart customers at the low prices they expect from us."
"Our multi-year licensing agreements with Topson Downs and Tefron have been pivotal in launching Destination Maternity at Walmart," said Tim Reid, Marquee Brands’ executive vice president of Fashion and Lifestyle. "Through this innovative and wide-reaching alliance, our brand aims to steadily build its market share and provide accessible maternity wear for everyone. Launching at Walmart presents an incredible opportunity to expand our reach and bring essential and stylish products to more mothers through every trimester and beyond.
"This launch is a testament to our commitment to meeting the needs of our customers at a great price point, and to continue empowering and nurturing mothers nationwide," Reid said.
Topson Downs and Tefron have a multi-year licensing agreement with Marquee Brands and will gain market share in the maternity retail industry through the Walmart's exclusive partnership.
Walmart Increases its Value
While Walmart is expanding its options for women during pregnancy and into motherhood and expanding its beauty products to compete with Target and Kohls, Walmart may have neglected its most valuable asset, its employees.
Walmart has come to realize that one key to hiring and employee retention during an unprecedented labor shortage is finding ways to motivate and develop its employees. Walmart plans to spend $1 billion over the nest five years to help develop and train its employees.
