Walmart and Lord & Taylor are teaming up, here's how

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The initiative announced Monday will start next spring. Walmart aims to boost customer traffic to their website by reaching a wider audience and enhance their online assortment with premium products while also reaching to millennial shoppers who usually don't shop on their website.

"Our goal is to create a premium fashion destination on Walmart.com", said the Head of Fashion for Walmart's U.S. E-commerce Division Denise Incandela in a statement to NBC.

Department stores are struggling so Lord & Taylor has agreed to start selling on Walmart.com
Walmart and Lord & Taylor are teaming up, here's how

"We see customers on our site searching for higher-end items, and we are expanding our business online to focus on adding specialized and premium shopping experiences, starting with fashion", Incandela says.

Walmart isn't a brand we normally associate with designer fashion. She did not comment on the financial terms of the partnership.

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High-end fashion has been a category notorious for being hard to sell online, especially as expensive brands have been reluctant to let sites like Amazon and Wal-Mart carry their items. Wal-Mart has struggled to lure affluent young consumers.

Walmart's big push to expand online comes as it tries to position itself to challenge Amazon. In June, the company inked an agreement to acquire online menswear retailer Bonobos in a deal worth US$310m as part of a broader strategy being undertaken by the United States retail giant to beef up its e-commerce footprint against Amazon. Last year's clothing and footwear market sales totaled to $13 billion which was up $9 billion 5 years prior. It is expected to triple its share of the US apparel market over the next four years, according to data from Euromonitor and Forrester. Virtual stores are also a preferred route for US retailers to enter new countries where they don't have operations.

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