Walmart is rolling out products by the luxury fashion brands of Lord & Taylor. Some of the 125 new brands include Tommy Bahama, La La Anthony, and Lucky Brand.
Walmart has made it clear that these new products will be identified as “premium,” distinguishing them from the rest of their catalog. With this, Walmart can expect to bring in new types of customers and Lord & Taylor can expand its products to a far wider audience.
Many companies are not able to keep up with the demands of staying relevant in online retail. With giants like Amazon and Walmart, it’s easy to be overlooked by the casual online shopper. This leads many to turn to partnerships where the spotlight can be shared. Alongside this new partnership, Lord & Taylor has also sold one of it’s most prominent physical stores and has brought in a new president with years of experience in online retail. These are clear signs that they are trying to rethink how they fit into this new age of shopping.
Online retail is growing fast and it’s beginning to overtake traditional brick and mortar stores. Many companies will need to adapt or they’ll risk fading out from the online world.
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Brian Roizen is the Cofounder and Chief Architect of Feedonomics, a full-service feed optimization platform that optimizes product data for hundreds of channels. He has been featured on numerous podcasts and eCommerce webinars, and regularly contributes to Search Engine Land and other industry-leading blogs. Brian graduated summa cum laude from UCLA with both a Bachelor’s and Master’s degree in Mechanical Engineering.