The US-based retail giant Walmart announced on Tuesday that it is acquiring women’s plus-size retailer Eloquii.
This news has triggered a new wave of social media protests with Eloquii fans taking to twitter and facebook to show their disdain.
In this backlash, many Eloquii fans have insinuated that they would not buy anything from the brand. It is not the first time that Walmart has witnessed such tremors. Last year when the retail firm acquired Bonobos and ModCloth, a similar rant on social media spread like a wildfire.
This is what a ModCloth fan had to say last year:
#modcloth died today. It killed itself. Death by #walmart.
Disgusting.
— Tardis full of bras (@_spacegandalf) March 15, 2017
Although Walmart has refused to disclose the acquisition amount, sources have indicated that the deal is worth $100 million.
Founded in 2011, Eloquii has gained a cult following in the United States in the women’s plus size apparel category. The company has doubled its revenue every year, reaching around $80 million for the fiscal year 2017.
While Walmart has taken this step to diversify its fashion segment, it will be interesting to see how the company mitigate the wide-scale consumer dissatisfaction.
