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Ecommerce

Walmart acquires ShoeBuy for USD 70 mln

Tuesday 10 January 2017 | 08:44 AM CET

Jet.com, an online retailer, owned by Walmart, has acquired footwear-shopping website ShoeBuy for USD 70 million.

ShoeBuy, which offers more than 800 brands of shoes, clothing and accessories, will continue to operate as a stand-alone website, and will complement Jet.com, which sells electronics, furniture, specialty foods, household, beauty items and a smaller assortment of clothes, shoes and accessories.

After the acquisition of the US ecommerce company, Jet.com, in September 2016, Walmart is also aiming to acquire a stake in Flipkart Online Services, to expand in the Indian online retail market.

Walmart has also launched its own mobile payment system called Walmart Pay. This allows shoppers to pay through its existing smartphone app. After testing the new payment system at selected stores, Walmart launched the facility in all of its 4,500-plus US stores in July 2016.

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