Wal-Mart expands online reach with ShoeBuy acquisition

BENTONVILLE, Ark. (AP) — The online retailer Jet.com, now owned by Wal-Mart, says it’s acquired the footwear-shopping website ShoeBuy for about $70 million.

The deal, announced Thursday, closed Dec. 30.

Based in Boston, ShoeBuy offers more than 800 brands of shoes, clothing and accessories. Arkansas-based Wal-Mart Stores Inc. says ShoeBuy will continue to operate as a stand-alone website, and ShoeBuy’s current executives and employees will still be based in Boston.


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The company says ShoeBuy suppliers will have the option to sell on Jet.com, too. The move is Wal-Mart’s latest push to expand its reach online following last year’s acquisition of Jet.com, which it bought for $3 billion plus $300 million in stock.

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