Walmart is expanding its home goods reach by making a major play into the wall décor category, with plans to acquire the assets of Art.com.
Art.com, one of the largest online retailers in the art and wall décor category, features two million curated images, including a growing exclusive assortment as well as customization services. The platform will create a deeper customer experience across Walmart’s home category, the company said.
Walmart said it plans to operate the assets of Art.com as a standalone and complementary site, and then add the wide-ranging assortment to Walmart.com, Jet.com, and Hayneedle.com. Walmart plans to acquire Art.com’s assets, including catalog, IP, trade name, and U.S. operations, for an undisclosed amount. The deal is expected to close early next calendar year.
“When decorating, redecorating, or even just infusing some new life into a room— many times the best and lowest-priced place to start is by hanging a piece of art on the wall. In an effort to give our customers even more inspiration and choice, I’m thrilled to announce our plans to acquire the assets of Art.com,” said Anthony Soohoo, svp/group general manager, home, Walmart U.S. e-commerce.