Walmart
Art.com is just the latest in a string of acquisitions by Walmart.
- Walmart has been on an online brands binge for several years now.
- Bonobos, ModCloth, and Art.com are just a few of the brands the
retail giant has snapped up since 2010. - Walmart's pivot toward digital-native companies likely indicates its outlook on the future of retail.
Walmart has been devouring online retailer after online retailer for the past few years.
So what's behind this banquet of brands? The fact that many of the acquired companies belong to the realm of e-commerce indicates that this is all part of Walmart's ongoing battle with Amazon.
But it's also about appealing to the younger, more affluent generation of consumers that flocks to brands like Bonobos and ModCloth.
Read more: Walmart wants to win over millennials, but it might have to acquire '40 to 50' brands to do so
A Walmart spokesperson previously told Business Insider that "one of the drivers for customers to continue coming back to your brand is going to be finding products and experiences that they just can't get anywhere else."
So the future isn't just about being online - it's also about having products that exude exclusivity and set you apart from the competition.
Business Insider previously reported on a note from financial services firm Cowen and Company that said Walmart's e-commerce president and CEO Marc Lore believes the retail giant needs to acquire 40 to 50 "successful digitally native retailers" in order to "resonate with millennials."
So despite the spate of acquisitions, Walmart still has a long way to go, at least by Cowen and Company's estimate.
Here's a look at the slew of digitally oriented brands that Walmart has scooped up in recent years:
