Walmart acquires lingerie retailer Bare Necessities

Business

NEW YORK (Reuters) – Walmart Inc (WMT.N) has acquired online lingerie retailer Bare Necessities for an undisclosed amount, the company said on Friday, as it works to boost its competitive standing in U.S. e-commerce and appeal to younger shoppers.

FILE PHOTO: A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo

The deal closed on Friday, the retailer said in a blog post.

Earlier this month, Walmart acquired Eloquii, a fashion startup that sells plus-sized clothing.

Reporting by Nandita Bose in New York

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