Welcome to the IKCEST
Jet.com to phase out Costco products after Walmart deal

If you are Jet.com customer partial to Kirkland Signature brand products, you'll soon have to look elsewhere for them.

Jet.com, which was purchased last year by Walmart, plans to phase out the Costco-owned brands, Bloomberg reported Monday. Some Kirkland products will still be available on the internet retailer but only through third-party sellers, a spokeswoman told Bloomberg.

The move is of little surprise, considering that Walmart and Costco are competitors in the warehouse club retail format. Indeed, Jet.com's Marc Lore took the inspiration for his site from Costco, which popularized the members-only warehouse approach.

The move comes about nine months after Walmart completed its $3.3 billion acquisition of e-commerce retailer.  Backed by hundreds of millions of dollars in funding, Jet.com launched its site nearly two years ago, offering consumer products ranging from laptops to shampoo to furniture.

Now under Lore's leadership, Walmart's e-commerce arm saw a 69 percent increase in merchandise volume last quarter, thanks to an expansion of third-party products and two-day free shipping.

Neither Jet nor Walmart immediately responded to requests for comment.

Original Text (This is the original text for your reference.)

If you are Jet.com customer partial to Kirkland Signature brand products, you'll soon have to look elsewhere for them.

Jet.com, which was purchased last year by Walmart, plans to phase out the Costco-owned brands, Bloomberg reported Monday. Some Kirkland products will still be available on the internet retailer but only through third-party sellers, a spokeswoman told Bloomberg.

The move is of little surprise, considering that Walmart and Costco are competitors in the warehouse club retail format. Indeed, Jet.com's Marc Lore took the inspiration for his site from Costco, which popularized the members-only warehouse approach.

The move comes about nine months after Walmart completed its $3.3 billion acquisition of e-commerce retailer.  Backed by hundreds of millions of dollars in funding, Jet.com launched its site nearly two years ago, offering consumer products ranging from laptops to shampoo to furniture.

Now under Lore's leadership, Walmart's e-commerce arm saw a 69 percent increase in merchandise volume last quarter, thanks to an expansion of third-party products and two-day free shipping.

Neither Jet nor Walmart immediately responded to requests for comment.

Comments

    Something to say?

    Log in or Sign up for free

    Disclaimer: The translated content is provided by third-party translation service providers, and IKCEST shall not assume any responsibility for the accuracy and legality of the content.
    Translate engine
    Article's language
    English
    中文
    Pусск
    Français
    Español
    العربية
    Português
    Kikongo
    Dutch
    kiswahili
    هَوُسَ
    IsiZulu
    Action
    Related

    Report

    Select your report category*



    Reason*



    By pressing send, your feedback will be used to improve IKCEST. Your privacy will be protected.

    Submit
    Cancel