As we continue to expand how we serve our customers and reach new ones, Walmart has announced plans to acquire ELOQUII, a digitally native vertical brand focused exclusively on the $21B women’s plus-size market. Here are the key facts about the deal:
What was announced today?
- Walmart plans to acquire ELOQUII for an undisclosed amount.
- The deal is expected to close later this quarter.
Who is ELOQUII?
- ELOQUII is a digitally native vertical brand that offers fashion and on-trend apparel starting at size 14 exclusively through its website and stores.
- ELOQUII has a direct connection with its customers that helps inform how products get developed, how they’re marketed and how the brand comes to life.
- Founded in 2011 as part of The Limited, ELOQUII re-launched online in 2014 as an independent direct to consumer brand.
- Customers love ELOQUII – its Net Promoter Score is near 80 and ELOQUII has enjoyed 3X revenue growth since 2015.
Why is the plus-size market important?
- Plus-size women’s apparel is a $21B market and represents one of the fastest growing segments in women’s apparel.
- Today, more than half of women age 18-65 in the U.S. wear size 14 or higher. However, these customers have been historically underserved, with clothing limited by its lack of fashion, lack of fit, or both.
- ELOQUII’s unique approach specifically caters to this customer with expertise in both fashion and technical design.
How will ELOQUII fit into Walmart’s business?
- Our acquisition strategy consists of two complementary parts:
1. Acquiring companies that strengthen Walmart.com and Jet.com by enhancing both their category expertise and assortment (e.g., Shoes.com and Moosejaw).
2. Acquiring digital brands that are unique and differentiated, offering products and experiences you can't find anywhere else. ELOQUII fits into this part of the strategy.
- ELOQUII sells through its own digital channel and offers unique and differentiated products, similar to ModCloth and Bonobos.
- ELOQUII complements ModCloth and our private brand assortment by focusing exclusively on plus-size women.
- ELOQUII CEO Mariah Chase, her executive team and ELOQUII’s ~100 employees will continue to be based in Long Island City, NY and Columbus, OH, and will join our U.S. e-commerce organization, reporting to Andy Dunn, SVP of Digital Consumer Brands, Walmart U.S. eCommerce.
- The team will join our portfolio of digitally native vertical brands, which includes ModCloth, Bonobos and Allswell.
See the blog post from Andy Dunn, SVP of Digital Consumer Brands, Walmart U.S. eCommerce for more information and photos.