Walmart has teamed up with Gap to create an exclusive home goods brand. The multi-year agreement between the two retailers will help both the companies to expand their customer bases. The brand will be called Gap Home and will appear on the Walmart website on June 24. The financial terms and other aspects have not been disclosed but both companies talk of a long-term partnership. Gap and Walmart had begun discussions in December about the feasibility of partnering together and launching a brand.
Gap will debut its collection on the website with approximately 400 items. There will be some items that are made using organic cotton and some will be made with recycled materials. There will also be unique finishes and items will be available at different prices. The home decor items will be available in the following categories:
- Bedding
- Bath accessories
- Decorative accessories
Gap will offer a denim styled pillow for $15.88 and a king comforter set for $64.98. Many other items will range between these two rates. Both the retailers will promote Gap Home. However, it will be distributed through Walmart. The Gap website will showcase some of the items of Gap Home but will direct buyers to the Walmart website. Customers from both the companies will get emails about the debut of this new brand.
Both the companies have lauded the deal and commented on it.
Mark Breitbard, CEO of Global Operations at Gap, said that the deal gives the company a more predictable revenue stream. It also places the brand in front of new customers, who may have never shopped in its stores, in the past.
He added that it felt like it could be a “super interesting partnership” for them and that how the conversation began. It gained steam and two strong American brands were now working together.
Anthony Soohoo, who is Walmart’s executive vice president for home, said that customers would see many denim and chambray inspired collections. He also said that the giant retailer’s relationship with Gap was one that they wanted to build upon. He said that the relationship was “enduring” for the retailer and that the recent launch of Gap Home was “not a capsule collection.”
Click Here For Full Stock Research on Walmart by CWEB
Click Here For Full Stock Research on GAP by CWEB
