Walmart will acquire Eloquii, a fashion startup that sells plus-sized clothing, for an undisclosed amount as in a bid to appeal to younger shoppers and differentiate from rival Amazon.
Eloquii, a four-year-old startup, sells apparel starting at size 14 online as well as through five brick and mortar stores.
Walmart, the world’s largest brick-and-mortar retailer, said Eloquii has seen its revenue grow by three times since 2015, without giving more details.
— ELOQUII (@ELOQUII) October 2, 2018
Plus-size apparel is part of a $21 billion market and represents one of the fastest growing segments in women’s apparel, Walmart said in a statement. More than half of women between the ages of 18 to 65 in the United States wear size 14 or higher, the retailer said.
“These customers have been historically underserved, with clothing limited by its lack of fashion, lack of fit, or both,” Walmart said. It had acquired digital brands like Modcloth and Bonobos.
Eloquii CEO Mariah Chase, the startup’s management team and 100 employees will continue to be based in Long Island City, New York, and Columbus, Ohio.
Walmart said the deal is expected to close this quarter.