Word dropped today that Walmart has bought the contemporary plus size fashion brand for an undisclosed amount.
Yes, you read right. Our jaws have dropped to the ground here at the PMM offices.
According to Retail Dive, the deal is expected to close within the quarter and Eloquii CEO Mariah Chase as well as her executive team and all employees will continue to be based in Long Island City, New York, and Columbus, Ohio.
This is another company that Walmart will add to their assortment of brand acquisitions, which includes Modcloth and Bonobos. This is Walmart’s way of enhancing what they offer with different brands and customer segments.
Eloquii states on their blog that they are excited about this change and has reassured customers that this will not change the assortment or their mission to offer fashion-forward styles to plus size women:
“We are the same ELOQUII—the same team, the same love of fashion, the same obsession with fit, fabric, and attention to detail. But now we have even more opportunity to be bolder, better and a bigger force in the fashion industry. i.e. YOUR ELOQUII…now with more opportunity to move fashion beyond a size 12.
You might be reading this and asking yourself why, and for some of you this will seem out of the blue given our history. TBH, there are elements of the business involving logistics and technology where we’re super (!) excited to have Walmart’s scale and expertise to improve and grow. Grow, grow, grow!”
Andy Dunn, senior vice president of digital consumer brands at Walmart U.S. e-Commerce also stands in support of not changing Eloquii’s mission to serve the plus size women with quality, modern fashion because the brand is already doing it well:
“Today we stand in solidarity with her (plus size women) by acquiring a brand whose sole focus is to exceed her expectations.”
Eloquii also wants to know what YOU think. They are asking customers to let them know how they can make this next Eloquii chapter even better. You can share your thoughts with the company at [email protected].