Wal-Mart is kicking off the year with the acquisition of ShoeBuy.com, an online shoe retailer that competes with Amazon ‘s More telling are comments from Wal-Mart’s head of e-commerce, Marc Lore, who said Jet and Wal-Mart will likely pursue more acquisitions like ShoeBuy. In particular, he pointed to “categories where they are long-tail, high-margin products and harder-to-crack brands.”
Category: Shoebuy
Walmart Tacks on Another E-commerce Company in the Hopes of Crushing Amazon
Walmart is hell-bent on sticking around and not going the way of Macy’s or other brick-and-mortar companies that have fell victim to the burgeoning world of e-commerce and the likes of Amazon . In its latest move to stay relevant in the world of e-commerce the company announced Thursday, Jan. 5, that it would buy online shoe seller Shoebuy.com from Barry Diller’s IAC/InterActiveCorp for $70 million.