Web Developers
On Thursday, December 6, Walmart announced that it had acquired the assets of fine art, prints and decorations e-commerce site Art.com for an undisclosed figure.
Art.com, founded in 1998 and based in the San Francisco Bay area, claims to be is the world’s largest online specialty retailer of high-quality wall art and complementary décor, having served 19 million customers in 150 countries. The company operates three sites in the US—Art.com, AllPosters.com, WorkspaceArt.com—as well as 25 localized sites in Europe, Japan, Canada and Australia. The company had raised a total of $56.2 million in four funding rounds.
Walmart commented that adding Art.com’s two million curated images would provide an even richer, deeper customer experience across its home category and that its assortment ranges from affordable and chic posters for the first apartment to limited edition prints and loft art pieces. Art.com will continue to operate as a stand-alone e-commerce site. The company considers the “wall,” a $10 billion market in the US, and art and wall décor to be fundamental to its plan to dominate home décor and furnishings.
Walmart previously outlined its broader acquisition strategy, which includes two types of companies:
- Category leaders with specialized expertise and assortments that enhance the customer experience on Walmart.com and Jet.com, such as Hayneedle, Moosejaw, Shoes.com, Bare Necessities and Art.com.
- Digital brands that offer unique products customers cannot find anywhere else, such as Bonobos, ModCloth and ELOQUII.