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10/13, 3:54 AM (Source: TeleTrader.com)
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Walmart buys Bare Necessities

Walmart Inc. said it has bought online women's lingerie retailer Bare Necessities for an undisclosed sum.

The company said the acquisition is part of their strategy to enhance the customer eCommerce experience on their Walmart.com and Jet.com sites and to bring to their customers' brands that offer unique products that can't be found anywhere else.

Bare Necessities, that offers thousands of products from more than 160 brands, will continue to operate as a standalone site. CEO and co-founder of Bare Necessities Noah Wrubel will lead the intimates category for both Walmart.com and Jet.com, as well as Bare Necessities.

Breaking the News / KP