NEW YORK — Wal-Mart will devote a section on its website to department store chain Lord & Taylor, the latest strategic partnership as retailers make alliances.
The initiative announced Monday will start next spring. Lord & Taylor hopes it'll attract new customers already buying higher-end products on walmart.com. For Wal-Mart, which has bought trendy fashion brands like ModCloth and Bonobos as it tried to broaden its customer base, the partnership is another move toward trying to create a premium online fashion destination.
Neither company would disclose the financial details of the arrangement.
Wal-Mart's big push to expand online comes as it tries to position itself to challenge Amazon. Department stores have lost customers, and Lord & Taylor's parent company is selling the New York flagship building and will lease back some of the space.