As seen in NBCNews.com
As inflation eats into grocery profits, Walmart debuts its first apparel collection with designer Brandon Maxwell.
Walmart has done well with basic apparel in the past, but it has struggled to make a mark when it comes to fashion. In 2017, it acquired the menswear company Bonobos and the womenswear brand ModCloth. The following year, it rolled out a series of exclusive in-house apparel brands and acquired the plus-size women’s brand Eloquii. But by 2019, ModCloth had been sold off, and Bonobos had been downsized.
“They had a terrific distribution network,” said Michael Prendergast, a managing director of Alvarez & Marsal Consumer and Retail Group. “Prices were super sharp, but the value of the product you’re getting for the price was misaligned. It felt cheap in certain items.”