Wal-Mart Stores Inc. has accessorized its recently acquired online marketplace Jet.com by buying it one of the largest shoe e-retailers in North America.
Wal-Mart, No. 4 in the Internet Retailer 2016 Top 500 Guide, today announced it bought online shoe and apparel retailer ShoeBuy.com Inc. (No. 101 in the 2016 Top 500) for $70 million. The deal will help expand Jet’s apparel and footwear selection, Wal-Mart writes. The move comes 11 months after Jet acquired home furnishings e-retailer Hayneedle Inc. to boost its indoor and outdoor home furnishings assortment. Wal-Mart acquired Jet.com in a $3.3 billion cash and stock deal in August.
