Wal-Mart Stores buys Moosejaw
Wal-Mart Stores has bought online outdoor clothing retailer Moosejaw for US$51 million.
Moosejaw will be Wal-Mart’s third acquisition in just over six months, following Jet.com and online footwear retailer ShoeBuy.
Based in Michigan, Moosejaw stocks Patagonia and North Face products, among other brands. It also has 10 brick-and-mortar shops which will continue to trade post-acquisition.
“Apparel and accessories is now the number one category for digital commerce, according to comScore Inc, and we gain the experience of another well-established e-commerce player, this time in the active outdoor category,” said Wal-Mart in a statement.
Commentators see the move as part of a broader strategy to close the gap on Amazon in the online retail space.
Wal-Mart’s online sales currently account for just 3 per cent of its total turnover.