Walmart and Space NK to Bring Prestige Beauty Products to its Shelves
Grace Mahas — March 15, 2022 — Business
References: corporate.walmart
Walmart and British retailer Space NK recently joined forces to bring prestige beauty products to Walmart.com and nearly 250 Walmart stores nationwide this summer. The new collaboration, which is dubbed BEAUTYSPACE, will make use of the department store's size and scale with the British beauty brand's selection of prestigious beauty products. BEAUTYSPACENK is sorted under four pillars – skincare, makeup, hair care, and bath and body – spanning luxe, indie, award-winning, plant-powered and more.
Shoppers will now have the convenience of shopping for both beauty essentials and prestige items at Walmart during their weekly shopping trips. Walmart is partnering with more brands and brands than ever before to bring consumers new and affordable beauty products. Space NK joins a growing list of collaborations and brand launches designed to make beauty products more accessible to everyone.
“We are delighted to partner with Walmart to bring prestige beauty to customers across the United States, delivered through our unique model that makes it easy to connect brands with shoppers,” said Andy Lightfoot, chief executive officer, Space NK.
Image Credit: Walmart, Space NK
Shoppers will now have the convenience of shopping for both beauty essentials and prestige items at Walmart during their weekly shopping trips. Walmart is partnering with more brands and brands than ever before to bring consumers new and affordable beauty products. Space NK joins a growing list of collaborations and brand launches designed to make beauty products more accessible to everyone.
“We are delighted to partner with Walmart to bring prestige beauty to customers across the United States, delivered through our unique model that makes it easy to connect brands with shoppers,” said Andy Lightfoot, chief executive officer, Space NK.
Image Credit: Walmart, Space NK
Trend Themes
1. Prestige Beauty Expansion - The partnership between Walmart and Space NK to bring luxury beauty brands to Walmart.com and Walmart stores provides disruptive innovation opportunities in expanding prestige beauty products in the mass market.
2. Beauty E-commerce Boom - The BEAUTYSPACE collaboration is part of the growing trend of online sales of beauty products and presents opportunities for disruptive innovation in the e-commerce arena in the beauty industry.
3. Accessibility and Convenience of Beauty Products - The BEAUTYSPACENK partnership is a response to the growing need for more accessible and affordable beauty products, creating disruptive innovation opportunities for companies that explore the market segment for these types of products
Industry Implications
1. Mass Retail - Walmart's partnership with high-end beauty retailer Space NK presents disruptive innovation opportunities for other mass retailers looking to expand their prestige beauty offerings.
2. Beauty Retail - The BEAUTYSPACENK collaboration signals a new trend in the beauty retail industry toward greater collaboration between luxury brands and market leaders to expand their reach to new target markets.
3. E-commerce - The growing trend of online sales of beauty products is evidenced by the partnership between Walmart and Space NK and creates disruptive innovation opportunities for companies looking to build their e-commerce platform in the beauty industry.
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