Walmart acquires lingerie retailer Bare Necessities

NEW YORK: Walmart Inc has acquired online lingerie retailer Bare Necessities for an undisclosed amount, the company said on Friday, as it works to boost its competitive standing in U.S. e-commerce and appeal to younger shoppers.

The deal closed on Friday, the retailer said in a blog post.

FILE PHOTO: Walmart store in Encinitas, California

Earlier this month, Walmart acquired Eloquii, a fashion startup that sells plus-sized clothing.

(Reporting by Nandita Bose in New York)

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