Walmart is Reviving Fashion Brand Scoop
Walmart said Monday it’s relaunching the once-beloved trendy New York fashion brand Scoop NYC on its website and in select stores. Scoop shuttered all 16 of its stores in New York City three years ago, having gained famed with its chunky black-and-white logo appearing across episodes of “Sex and the City” and on the arms of fashion influencers in the SoHo neighborhood of Manhattan. The liquidation marked the end of Scoop’s 20 years in business, as it became a victim of rising rents in the city. Now, in a bid to build itself as a bigger fashion destination, Walmart has attained the rights to the Scoop name and is relaunching the brand, but at more affordable price points.
Total Retail's Take: Walmart has made a concerted effort — largely through acquisitions and brand partnerships — to augment its fashion assortment and become known as a destination for apparel. And that extends beyond its stores to its website. Apparel represents not only the largest sector of retail sales, but also one of its fastest-growing categories online. Online apparel sales grew 18.5 percent in 2018 and represented 34.4 percent of U.S. apparel sales, up from 30.6 percent in 2017, according to the Internet Retailer 2019 Online Apparel Report. Not surprisingly, Walmart's primary competitor, Amazon.com, is also making a strong push into the fashion category, growing the number of its private-label brands. With the struggles of mall-based, specialty apparel retailers well documented, Walmart is trying to seize the opportunity at hand and grow market share in a category that it historically hasn't been associated with. Buying the Scoop name and relaunching the brand is a testament to that strategy.