Walmart’s Jet.com will launch a higher-end grocery line targeting millennials, just over a year after Walmart spent more than $3 billion for the fast-growing online retailer amid more intense competition from Amazon.
Amazon.com Inc. last month closed on its acquisition of Whole Foods, intensifying the competition among Walmart, Target, and other supermarkets as all of them fight to win a bigger slice of the grocery market.
Jet.com said Friday that the new brand, called Uniquely J, will focus on younger customers in urban areas, offering them select coffee, olive oil, paper towels, and other products.
Jet.com, which sells clothing, gadgets and home furnishings among other items, will also be carrying some of the niche brands like ModCloth and Bonobos that Walmart acquired in recent months. ModCloth is starting to be carried on Jet now, while Bonobos will be some time next year, according to Walmart officials.
Amazon cut prices almost immediately on a number of items at Whole Foods after it closed on the deal. Walmart has done the same over the past month.