Walmart is a well-known brand when it comes to grocery stores. But now, the retail giant would want to take another leap for its business.
The grocery giant is about to launch its clothing brand for men and women as it dips its feet on the fashion industry. Walmart aims to go beyond being a grocery store into a store that can cater to all consumers’ needs.
Walmart’s Free Assembly Clothing Line
For months, Walmart has been developing its exclusive clothing brand with its unique style. The company is to debut its clothing line dubbed as Free Assembly. Walmart said that the new clothing brand offers for men and women. Within the week, the clothing brand will be available in Walmart’s 250 retail stores and online stores.
Before COVID-19, the largest American grocery chain was already planning to expand its merchandise and eyeing to create a profitable venture in clothing and e-commerce. Then the pandemic came and hurt many apparel retailers in the country. Sales of known retailers such as Macy and Kohl plummeted while others like J.C. Penney permanently shut down operations. Walmart saw the opportunity to fill the retailers’ void and get their market share by offering a new clothing line set.
Making a Name in the Fashion Industry
The company has been looking into making a name in the fashion industry. In the past few months, it has been building up its clothing line. It bought Bonobos, a well-known men’s wear retailer. It then tied-up with the famous apparel and shoe retailer ThredUp to offer consumers high-end products at an affordable price.
Beside from Bonobos and ThredUp, Walmart also teamed up with known celebrities to create clothing collections. TV personality Ellen DeGeneres and actress Sofia Vergara are among those celebrities.
By offering apparel in its stores, Walmart is providing convenience for American consumers through a one-stop-shop. Consumers can now purchase the essential items and, at the same time, buy some clothes that they love to wear.
Walmart’s Revenue Will Grow
Experts predicted that by selling apparel, revenues of retailers like Walmart would increase by up to 20% this year. Walmart and other mass retailers are already grabbing the market shares of department and mall stores.