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encinitashomeremodeling · 1 year ago

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Encinitas Retail Store Remodeling Services - Encinitas Home Remodeling

Encinitas Retail Store Remodeling Services by Encinitas Home Remodeling is your key to creating a shopping haven that captivates customers. Our team of experts specializes in retail spaces, transforming them into dynamic and alluring destinations. Whether you want a complete store makeover or functional upgrades, we bring your retail vision to life with precision and style. We focus on quality materials and exceptional craftsmanship, ensuring your store stands out in a competitive market. Elevate your retail business with our exceptional remodeling services in Encinitas and make shopping an unforgettable experience for your customers.

#Retail Store Remodeling #home remodeling #home renovation

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unioncowork · 3 years ago

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Furnished Private Offices & Conference Rooms in Los Angeles | Union Cowork

The area’s charm stems from the fact that it is one of the most walkable neighborhoods in the entire city. A fast-moving wave of redevelopment focusing on the early 20th-century industrial buildings that dot the district create a distinctively nostalgic charm and contemporary twist.

Visit Us:- https://unioncowork.com/locations/arts-district-los-angeles-ca/

#Furnished Private Offices & Conference Rooms #shared office space glendora #office space for rent east village #retail space encinitas

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dippedanddripped · 3 years ago

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A historically rich Studio City, Calif., site will experience a renewal as The Shops at Sportsmen’s Lodge welcomes visitors during late summer or early fall 2021 following a $100 million redevelopment. The 95,000-square-foot space will replace the property’s formerly occupied meeting-and-convention area.

Much effort was also dedicated to preserving the site’s history. Dating back to the 1800s, it served as a refuge for many well-known personalities, including those from the golden era of Hollywood in the 1940s. Parent company Midwood Investment & Development has preserved its ties to the area through the roots established by its founder, Samuel Lemberg, and also included the Weintraub Real Estate Group on the project.

“Midwood was started in 1925 by the current CEO’s grandfather, and, in addition to being a real-estate developer, he was also a financier. He financed the original development of the hotel that sits on the site now,” explained Lease Director of Midwood Ron Bondy. “As part of the structure of that deal, he kept the ownership of the land underneath the hotel. It was a portion of the current nine-acre site.”

Eventually the land surrounding Lemberg’s parcel was put up for sale—a prime opportunity for Midwood to expand yet also maintain the legacy of the area through the purchase.

Situated centrally within the San Fernando Valley at the intersection of Ventura Boulevard and Coldwater Canyon, The Shops at Sportsmen’s Lodge will focus on providing retail, dining and wellness experiences to its visitors. Anchor tenants include the wellness-focused market Erewhon and the fitness giant Equinox with additional spaces occupied by businesses including Civil Coffee, Free People Movement, Madison Reed, Myodetox, Roberta’s Pizza, Salt Optics, Tocaya, Tuesday’s Sweet Shoppe, Ushi Ushi, Van Leeuwen and Vuori.

It is Bondy’s hope that this space will become a daily destination for residents, students and those who work at nearby studios. By highlighting California brands—specifically those from the state’s southern and Los Angeles regions—an opportunity arose to create genuine connections within the community.

“We didn’t want this project to feel commoditized,” Bondy said. “There are brands like Civil Coffee out of Highland Park; Tuesdays Sweet Shoppe, a local candy store out of Los Feliz; Tocaya, which is an L.A. brand; and Vuori, the athleisure brand—when we made the deal, it was still a Southern California brand. They had not gone national yet.”

The opportunity to expand its local presence as part of a unique project aligns with Vuori’s plans. While the Encinitas, Calif., brand had been preparing for a nationwide rollout, it also wanted to continue fortifying its presence in Los Angeles when planning for The Shops at Sportsmen’s Lodge began.

“At the time, we had our little Manhattan Beach store. We now have Malibu, but we were really looking for unique opportunities in the Los Angeles market with new projects,” said Vuori Senior Director of Retail Catherine Pike. “We loved the co-tenants and were super excited about Erewhon. The community in Studio City—people being outdoorsy, loving to get out and be active and into fitness—it’s a really cool opportunity.”

Sharing a space with a unique roster of businesses and co-anchor Equinox was attractive to Erewhon Chief Development Officer Yuval Chiprut, who was also drawn to the Studio City area.

“Studio City is a robust market. Our customers and our demographics are in that area,” Chiprut said. “We know that some of those customers come to our other stores, and we wanted to service them in the Valley.”

The work of Midwood’s architectural partner Golin and landscape-architecture firm Olin also informed Erewhon, as the natural elements and consideration for the existing environment speak to the brand’s mission. Olin’s focus on maintaining the natural surroundings—such as retaining the property’s redwood trees—afforded a design foundation for Erewhon.

“We paid homage to the rich redwoods that are there and made our store out of walnut to accent them,” Chiprut said. “All the decisions were so well thought out, they seemed to be obvious.”

Through creating a special approach to a retail and service destination, there was room for cultivating relationships among businesses, yielding an atmosphere of camaraderie.

“We formed very close relationships with everyone that we put into the project. During COVID, it was tough for everybody. It was tough for us, it was tough for the retailers, and we all said we’re going to get through this and the future is going to be better, so we developed close relationships,” Bondy said. “There was a lot of give and take.”

While the light of hope exits at the end of this dark COVID-19 tunnel, those involved in The Shops at Sportsmen’s Lodge hope that this spirit of community remains as normalcy returns.

“Something I want to set as an intention is that our store leadership really gets to know very early on the other members of leadership within the center so we can support one another,” Pike said. “Every person who comes for an individual thing is going to discover a lot of other brands because of that.”

#sportsmen lodge #studio city #vuori #streetwear blog #fashion blog

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encinitashomeremodeling · 1 year ago

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Encinitas Home Remodeling - Encinitas Retail Store Remodeling Services

Encinitas Home Remodeling offers top-quality retail store remodeling services in Encinitas. Our expert team specializes in transforming retail spaces into functional and appealing environments. Whether it's a boutique, shop, or any retail establishment, we handle every aspect of the remodeling process with precision and care. Our services include design, construction, fixtures installation, flooring, cabinetry, and more. With a focus on quality craftsmanship and using premium materials, we ensure a professional and inviting end result. Trust Encinitas Home Remodeling for a seamless and successful retail store remodeling experience. Contact us now to enhance your retail space with our exceptional services!

#home remodeling #home renovation #kitchen remodeling #kitchen renovation

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unioncowork · 3 years ago

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Office Space for Rent and Event Space Glendora | Union Cowork

Nestled in the foothills of los angeles county, glendora is an evolving community that has experienced a dramatic uptick in popularity in recent years. A flurry of renovations, revamped infrastructure, and incoming businesses have brought new life into the region.

Visit Us:- https://unioncowork.com/locations/glendora-los-angeles-ca/

#Office Space for Rent and Event Space #office space for rent encinitas #shared office space glendora #retail space encinitas

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tinalecountmyers · 7 years ago

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Here’s a story with magic in it: While in San Diego for a book signing, I stopped in @bncostaverde to see if they were carrying my book. I’m in the parking lot and I see a cute little dachshund peeking out of a car window. As I walked by, I recognized the driver. It was the husband of my dear friend Ruby Lang who was shopping for children’s books. In a city/county of 3.3 million I ran into one of my favorite people in the world. Magic!! The cute lil pup is Pancake. And Ruby has the most amazing retail space at Solo on Cedros in Solana Beach. Signed copies of The Song Of All are at Barnes and Noble (Bookstar) in La Jolla Village and at Barnes and Noble in Encinitas and Mysterious Galaxy. #TheSongOfAll

#thesongofall

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supremekalmllc · 4 years ago

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New Post has been published on https://supremekalm.com/california-voters-expand-commercial-cannabis-opportunitiesacross-the-state-part-i/

California Voters Expand Commercial Cannabis Opportunities Across the State: Part I

Election day this year proved to be a big step forward in terms of drug policy reform, with Arizona, Montana, New Jersey, and South Dakota legalizing adult-use cannabis, Mississippi legalizing medicinal cannabis, Washington DC decriminalizing a host of psychedelic plants, and Oregon leading the way by legalizing psilocybin for therapeutic use and decriminalizing non-commercial possession of ALL controlled substances.

But here in California, at least thirty-five cities and counties were also voting on cannabis-related issues, and those ballot initiatives were largely successful. As Marijuana Business Daily noted in their overview of the successful initiatives, “as of June, only 168 of California’s 540 cities and counties allowed for any type of legal MJ retail operations, and many of those don’t allow adult-use retail, only medical,” and across California, there are currently only about 700 storefront retailers, which is arguably woefully insufficient.

In this two-part series of posts, we’ll provide a rundown of what happened with cannabis at the local level in this year’s election, and how in some jurisdictions, that might pave the way for new commercial cannabis opportunities across California.

Artesia: Measure Q

Voters in Artesia, a suburb in Los Angeles County, voted to authorize a tax on marijuana businesses of 15% of gross receipts and $20 per square foot for cultivation. Proponents of the measure estimated that these taxes could generate $200,000-400,000 per year in revenue for city services.

Banning: Measure L

Voters in Banning, located in Riverside County, authorized a tax of up to 10% on marijuana distribution facilities to provide an estimated&#2013266080;$20,289-$405,790 per year for general city services.

Benicia: Measure D

Voters in the Bay Area city of Benicia approved an opinion that new marijuana dispensaries should be permitted within the city. Measure D was put on the ballot as a nonbinding, advisory question with no ability to change local law.

Calaveras County: Measure G

Voters in Calaveras County approved a new tax structure, establishing a maximum marijuana activities tax, not exceeding $7.00 per square-foot for cultivation area and 8% of receipts for other marijuana activities, generating an estimated $1.5 â€“ $3 million per year to be used locally.

Calabasas: Measure SB

Voters in Calabasas approved a cannabis tax structure, authorizing a 10% tax on marijuana businesses generating an estimated $10,000 per year to fund city services.

Commerce: Measure SB

Voters in Commerce rejected a measure that would have approved six marijuana company-development agreements struck between city officials and businesses.

Costa Mesa: Measure Q

Voters paved the way for the City of Costa Mesa to allow commercial cannabis retail stores by approving a measure allowing a 4%-7% gross receipts tax on retail marijuana businesses generating an estimated $3 million per year for city services, and the regulation of marijuana business locations.

Encinitas: Measure H

Voters approved the City of Encinitasâ€™ authorization of commercial cannabis activities, including retail sales, cultivation, manufacturing with certain restrictions. Encinitas currently bans all commercial cannabis activity.

Fairfield: Measure C

Voters in Fairfield authorized a marijuana business tax of 6% of gross receipts for retail businesses, 4% of gross receipts for other businesses, and $10 per square foot for cultivation generating an estimated $237,500 â€“ $360,000 per year.

Grass Valley: Measure N

Voters in Grass Valley approved an 8% gross-receipts tax for retailers, a 6% gross-receipts tax for other businesses and a cultivation tax of up to $7 per square foot.

Hawthorne: Measure CC

Voters in Hawthorne authorized a 5% tax on marijuana businesses generating no revenue until marijuana businesses are permitted in Hawthorne.

Jurupa Valley: Measure U

Voters in Jurupa Valley rejected a measure that would have expanded the number of retailers allowed in the city from seven to nine and increased taxes on cannabis businesses.

King City: Measure P

Voters in King City approved a tax of up to 5% of gross receipts for the sale of marijuana and marijuana products and up to 2% of gross receipts for the distribution of marijuana and marijuana products from outside King City generating an estimated $150,000 per year.

Laguna Woods: Measure V

Voters in Laguna Woods approved the opinion that marijuana dispensaries for retail sale of medical and non-medical marijuana should be permitted within city limits. Measure V was put on the ballot as a nonbinding, advisory question with no ability to change local law.

La Habra: Measure W

Voters in La Habra authorized permits for up to four marijuana delivery businesses and a gross receipts tax of up to 6% on commercial marijuana businesses generating an estimated $1-2 million per year for general services including emergency responses, public safety, addressing homelessness, senior programs, open space preservation, and small businesses.

Lemon Grove: Measure J

Voters in Lemon Grove, near San Diego, authorized a tax on marijuana retail business of up to 8% and on other marijuana businesses of up to 4% of gross receipts generating an estimated revenue of between $560,000 and $1.12 million per year for general city services.

Madera: Measure R

Voters in Madera authorized a tax on marijuana businesses of 6% of gross receipts for retail businesses, 4% of gross receipts for other marijuana businesses, and no more than $10 per square foot for cultivation generating an estimated $720,000 â€“ $1.08 million per year. Madera currently prohibits commercial cannabis activity.

Marina: Measure Z

Voters in Marina authorized restrictions on marijuana business proximity to parks and recreation centers, maintaining a 5% gross receipts tax on marijuana businesses and the cap of three adult retailers and three medical dispensaries, and continuing to prohibit recreational sales to individuals under 21.

Marysville: Measure N

Voters in Marysville authorized a tax on marijuana businesses of 6% of gross receipts for retail, 4% of gross receipts for other marijuana businesses, and $10 per square foot for cultivation, generating an estimated $300,000 â€“ $470,000 per year for municipal services including law enforcement, fire services, roads and recreation.

Mount Shasta: Measure L

Voters in Mount Shasta rejected a measure that would have authorized regulations and licensing requirements for industrial marijuana businesses.

____________

Weâ€™ll cover the remainder of the cannabis-related election results here in California in the next installment of this two-part series of posts.

The post California Voters Expand Commercial Cannabis Opportunities Across the State: Part I appeared first on Harris Bricken.

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jobsearchtips02 · 4 years ago

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Anti-mask clients require some dining establishments to re-close dining rooms

Some restaurants are shutting down or closing dining spaces back up after employees dealt with harassment and violence from anti-mask clients.

Dining establishments in states, including Texas, California, and Michigan, have actually announced plans to when again shutter dining-room due to disrespectful customers who refused to use masks.

Other dining establishments are having a hard time to find ways to safeguard employees without closing dining rooms or closing down completely.

Go to Organisation Expert’s homepage for more stories

As restaurants ponder resuming dining spaces across the US, some are facing a brand-new concern– how aggressive anti-mask customers may deal with staff members.

Many dining establishments across the United States have actually chosen to close dining rooms after resuming or closed down entirely due to anti-mask customers’ treatment of employees.

Hugo’s Taco closed both of its areas in Los Angeles in late June due to combative customers who declined to use masks.

” Staff have actually been pestered, called names, and had objects and liquids thrown at them,” Hugo’s Tacos said in a statement posted on social networks. “A mask isn’t symbolic of anything aside from our desire to keep our staff healthy.”

Los Angeles requires individuals to use a mask whenever they’re in public, which includes journeys to taco stands and other dining establishments. But, enforcing these requirements can fall on dining establishment workers.

Hugo’s Tacos stated that the majority of consumers have actually been considerate and kind, and hundreds have contributed to a GoFundMe that raised approximately $45,000 for Hugo’s Tacos’ staff. Still, for Hugo’s Tacos and other dining establishments, the handful of anti-mask customers are too much of a danger.

GOODONYA Organic Eatery in Encinitas, California, revealed this week that it will as soon as again stop using dine-in service, due to consumers lashing out at workers who asked them to wear masks. In Houston, Texas, Eater reports Chow Wok did the same after wearying of “rowdy clients” who stormed out when asked to wear a mask.

Halcomb’s Taco Casa in Pocahontas, Arkansas, recently announced comparable plans to close its dining-room, as did Mexican Feast in Dearborn Heights, Michigan.

” Sadly, there were numerous circumstances where our staff was disrespected and treated rudely,” Mexican Carnival wrote in a statement on Facebook. “The security of our clients and personnel is our primary priority so we have made the hard decision of closing our doors to the general public till more notification.”

Waffle House.

AP Photo/Russ Bynum.

Research progressively suggests that using masks can significantly decrease the spread of the coronavirus, Service Expert’s Aria Bendix reports.

Some dining establishments, including significant chains such as Waffle Home, have actually posted indications about social distancing and (in locations with mask requirements) deal with coverings.

While impolite customers are absolutely nothing brand-new, some conflicts linked to masks have actually put staff members in unsafe scenarios. In May, a client shot a staff member at a Waffle Home in Aurora, Colorado, after being turned away for not using a mask. This week, a McDonald’s worker from Oakland, California, was hospitalized after being attacked by a customer who refused to use a mask, she told Service Insider.

” In 30- plus years of studying retail and crisis situations, we have never ever seen a scenario of consumers being so disrespectful to per hour staff members,” Larry Barton, a professor of crisis management and public security at the University of Central Florida, told Company Expert’s Mary Hanbury in May

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from Job Search Tips https://jobsearchtips.net/anti-mask-clients-require-some-dining-establishments-to-re-close-dining-rooms/

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connorrenwick · 6 years ago

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Norden Brings Its Brand of California Cool to an Encinitas Storefront

Southern California-based home goods brand Norden was founded in 2014 by husband and wife team Erika and Pete Paniera. Both noticed a hole in the market for simple, well-designed home accessories that would stand the test of time, so they set out to fill it with Erika’s interest in home decor and Pete’s experience as an art director and designer coming in handy. Each piece the duo creates and produces is informed by their own taste as well as the brand’s mission to bring warmth and comfort to the home through carefully considered, functional objects produced with a high level of attention to craft. Much of Norden’s line is produced in their California studio or in the USA by manufacturers with years of knowledge and experience. As the brand has grown, the next step organically presented itself in the form of a storefront in Encinitas. For this month’s Design Store(y), we talked to founder and owner Pete Paniera about how the shop came about and what Norden does as a brand.

Why did you pick this city/neighborhood/storefront?

My wife, Erika, and I run Norden together and we have lived in Encinitas off and on for the past 10 years. We definitely feel that we are part of the community here and love the small town feel that Encinitas has. Whether we are hosting an art show, a concert, or a warehouse sale, the community has always come out to support Norden. It just felt natural for us to open up a retail space here in Encinitas. Plus, the way our physical retail location became available to us was very organic. Over the years, many of our friends have either worked at or ran the space at UNIV (alongside our shop). When Sam Larson, from the menswear store Lone Flag, offered us the space adjacent to UNIV and Lone Flag, we knew it would be a great fit for Norden.

Where did you get the name for the store?

Norden is the name of our brand, so we just went with that.

Has it changed much since it opened? How?

We opened in October of last year, so we definitely focused on getting the shop ready for gifting season. Our first buy for the shop included a lot of small items like chocolate, watches, and gifts. Now, as we move into spring/summer, we are focusing more on our plant program. It’s been really fun to curate plants for the store and take care of them — and help our customers to learn how to take care of their plants as well. Plants are the perfect accessory to add warmth and life to the home. A plant that someone buys in our store can potentially live for years in someone’s home, which is really exciting to us. As we move into other seasons, I’m sure the store will change and evolve accordingly.

What’s one of the challenges you have with the business?

Norden has been in business as a brand for almost five years now. We have mostly focused on wholesale and selling our products through our amazing retail partners. Now, with our brick and mortar space, we are seeing firsthand some of the challenges our retail partners face. It has been beneficial to us as a business and gives us a new perspective on retail that we can use to serve our wholesale customers better.

What other stores have you worked in before opening this one?

I have never worked in retail, but as a brand Norden sells to a variety of stores throughout the U.S., Europe, and Australia. Most notable among those are Design Within Reach, Herman Miller, Need Supply, West Elm, and CB2. We also work with a lot of really great smaller boutiques and museum stores. Some of the first shops to carry Norden were Home of the Brave, Spartan, Individual Medley, and Lawson Fenning. We still have great relationships with many of our first stockists that started with us five years ago.

What’s your favorite item in the store right now?

I love the lighting that SIN is making right now. She is exploring and pushing the boundaries of what can be done with ceramics and lighting in a really interesting way. We have one Rolling Hills table lamp in store at the moment — and I can’t wait until someone buys it and takes it home (so that I won’t).

What is this season’s theme/inspiration/story?

This season we are focusing on bringing green into the home, so we are really stocked up on plants right now. We recently released a plant guide to help people navigate plant care and the mysteries of keeping their plants alive. We know owning plants can be really intimidating but we want to encourage people to bring greenery into their home. They are beautiful, clean the air, and they bring a calming presence to your environment.

Are you carrying any new products and/or undiscovered gems you’re particularly excited about?

We are about to bring in a delivery of pieces from Mt. Washington Pottery that we are really excited about. Beth Katz is the ceramicist behind the brand and we think she makes the most beautiful work. Part of what’s exciting about running the retail space is the opportunity to curate brands for the shop that nobody else in San Diego sells. When you come to Norden you are going to find items that are not available elsewhere in the city — or perhaps anywhere else. Many of the pottery brands we sell only stock a few stores and sell out of items on their websites. At any given point it’s possible that we have items in stock that aren’t available anywhere else.

What’s been a consistent best seller?

As the shop is a flagship for our brand, Norden items tend to sell the best — specifically our candles. The shop is across the street from one of the most famous surf spots in Southern California, so our Hanalei candle tends to sell really well. The fragrance leans heavily towards the summer scents of sunscreen and surf wax.

What’s your process for selecting + curating the objects in your shop?

Running the brand has allowed us to meet so many ceramicists, brands, and creators that make beautiful and interesting work. The third party products we bring in to the shop are mostly from friends of ours. Having the Norden storefront gives us a chance to work with brands we love and show their products to our customers.

Any special events/exhibits/pop ups/collaborations coming up?

We love hosting events in our community and always feel supported by those that have been following the brand for years. When we opened the shop in October, we had our friends The Mattson 2 play. That was super exciting as we have been friends with them for a long time and they are such loved artists in our community. It was really special having them play at our opening and so many people came out for it. Going into spring and summer, we will definitely be having a plant sale and party, so be sure to follow along on Instagram and join our newsletter for details!

In terms of collaborations, we are working on some exciting new things with SIN and Mt. Washington Pottery, plus we have something in the works with artist Laura Berger.

Do you have anything from the store in your own home?

Almost everything we sell in the shop is in our home. Everything we make as a brand, and everything we curate for the shop are things that Erika and I personally love. We aren’t selling anything that we wouldn’t put in our home. We are interested in creating and selling products that customers will want to buy, but also we are trying to sell items that show our point of view on home decor.

What’s been one of the most fulfilling aspects in opening your store?

Erika gets really excited about helping curate the brands and items we stock in the store. I love taking care of the plants. Since the brand takes so much time, we have delegated some tasks to our employees but I check in on the shop multiple times a week. It’s awesome when I’m there and a customer comes in. Having a direct connection with our customers and getting them excited about products is really fulfilling.

What’s one lesson you’ve learned since opening your store?

When we opened we didn’t have a gauge for how much money people were willing to spend on certain items. Handmade and hand painted ceramics tend to be pricey. Finding that price threshold and adjusting our purchasing for the store has been a learning process. Also, trying to educate the customer on why something costs what it does is key.

If you could give one piece of advice to someone who wants to follow a similar path to yours, what would it be?

We are a brand that happens to have a retail store — in that order. I think that has been a good way to approach retail. Since we produce many of the products that our store stocks, we are able to achieve a much higher average margin on the items we sell. I would say that is a big advantage over the traditional model of retail. Making our own products also allows us to be flexible with our inventory. That being said, my advice for someone trying to start up a shop in today’s tough retail environment is to think of how you can sell items in your shop that will allow you to achieve a higher margin so you can pay your bills. Also, when you curate the items for your store, try to have an authentic point of view that resonates with your customers. There are plenty of stores out there selling the same thing, it’s your job to make your shop unique and stand out from the crowd.

Visit Norden at 1053 South Coast HWY 101, Encinitas, CA 92024 or at nordengoods.com.

All photos courtesy of Norden.

via http://design-milk.com/

from WordPress https://connorrenwickblog.wordpress.com/2019/05/07/norden-brings-its-brand-of-california-cool-to-an-encinitas-storefront/

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nbntv-blog · 6 years ago

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Walmart acquires online lingerie retailer Bare Necessities

NEW YORK (Reuters) – Walmart Inc (WMT.N) said on Friday it has acquired online lingerie retailer Bare Necessities for an undisclosed amount, its second apparel-focused acquisition in less than two weeks as it seeks deeper inroads into the online fashion space.

FILE PHOTO: A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo

Walmart last week…

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michaeljtraylor · 6 years ago

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Walmart acquires online lingerie retailer Bare Necessities

NEW YORK (Reuters) – Walmart Inc (WMT.N) said on Friday it has acquired online lingerie retailer Bare Necessities for an undisclosed amount, its second apparel-focused acquisition in less than two weeks as it seeks deeper inroads into the online fashion space.

FILE PHOTO: A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo

Walmart last week acquired Eloquii, a fashion startup that sells plus-sized clothing.

The company also tied up with comedian and talk show host Ellen DeGeneres to launch a women’s fashion line in August.

In 2017, the Bentonville, Arkansas based retailer partnered with department store chain Lord & Taylor and started offering its products on Walmart.com. Lord & Taylor is owned by Hudson’s Bay Co (HBC.TO).

Walmart also last year bought ShoeBuy, which specializes in footwear and apparel; Moosejaw, which sells outdoor wear; Bonobos, which sells men’s clothing and ModCloth, an online seller of women’s apparel.

Walmart’s string of small fashion-company acquisitions is designed to help the retailer access younger, millennial customers who do not normally shop on its website, and recover ground lost to Amazon.com Inc (AMZN.O) and others.

The deal also reflects a sense of urgency to defend market share. According to a report from Morgan Stanley, Walmart had 8.6 percent of the U.S. apparel market in 2017, followed by Amazon at 7.9 percent and Target Corp (TGT.N) at 4.8 percent.

The report estimated Amazon will overtake Walmart as the leading retailer in the apparel category in 2018.

“The acquisition of Bare Necessities fits well into our broader acquisition strategy, which includes two different types of companies: category leaders … and digital brands that offer unique products,” Denise Incandela, head of fashion, Walmart U.S. eCommerce, said in a blog post.

Bare Necessities will continue to operate its site as before and will run as a standalone brand, she said. The company was founded in 1998 and offers more than 160 brands, including bras, swimwear, shapewear and sleepwear.

Walmart did not offer additional details on the impact of the acquisition to earnings and did not comment on how this buy will bolster its market share in the category.

Noah Wrubel, co-founder and chief executive of the lingerie retailer, will oversee the intimates category on Walmart.com and Jet.com, which Walmart acquired in 2016. Wrubel will also continue to run the Bare Necessities business.

The deal closed on Friday, Walmart said. The retailer’s shares ended up 0.95 percent at $94.81 per share.

Reporting by Nandita Bose in New York; editing by Matthew Lewis and Cynthia Osterman

Our Standards:The Thomson Reuters Trust Principles.

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nicholerestrada · 6 years ago