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Walmart buys Art.com to take on Amazon in home decor

Art.com will continue to operate as a standalone online storefront.
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TennesseePhotographer via Getty Images

Walmart announced that it is planning to acquire Art.com, a major online retailer of art and wall decor. The art seller will continue to operate as a standalone online storefront, but some of the platform's more than two million products will be available through Walmart.com, Jet and Hayneedle. Walmart hasn't said if it will carry Art.com products in its physical stores.

The purchase is expected to be completed in early 2019, though no price was given. In addition to the company's products, Walmart is also getting its hands on Art.com's ArtView platform that allows shoppers to see what a product will look like in their home. The technology may be used so shoppers can preview other Walmart products as well. Walmart currently offers virtual looks at curated apartments, while retailers like Target and Ikea have full augmented reality offerings.

The purchase of Art.com marks a continuation of Walmart's online retailer spending spree. Since spending $3 billion to acquire Jet.com in 2016, Walmart has scooped up a number of smaller e-commerce companies including women's clothing shop ModCloth, men's clothing outlet Bonobos, outdoor gear seller Moosejaw, footwear retailer ShoeBuy and home furnishing company Hayneedle.

Via: TechCrunch
Source: Walmart
Coverage: CNBC
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