Bloomberg reports that Marc Lore, who is running all of Walmart’s US e-commerce operations, said this week at the Shoptalk conference in Las Vegas that the company “remains in buying mode as it looks to differentiate its online inventory to compete with Amazon … Future acquisitions will likely be in the $50 million to $300 million range, and could go higher.”
“We’re looking and talking to more companies than we ever had,” Lore said. “We’re definitely in an acquisition mode.”
In addition to buying Jet, which brought its founder Lore to Walmart, the retailer also has acquired such primarily online brands as Bonobos and Moosejaw, which give it a marketing diversity by appealing to a customer base that goes beyond its traditional core.
“We’re looking and talking to more companies than we ever had,” Lore said. “We’re definitely in an acquisition mode.”
In addition to buying Jet, which brought its founder Lore to Walmart, the retailer also has acquired such primarily online brands as Bonobos and Moosejaw, which give it a marketing diversity by appealing to a customer base that goes beyond its traditional core.
- KC's View:
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Lore also said that he’s in for the duration, committing to remaining with Walmart for at least five years. And, he suggested that while Walmart/Jet e-commerce numbers were down in the last quarter, this is all part of the process … that patience, persistence and commitment are required to make the segment work in a sustainable way.
All of which I agree with.
