NEW YORK (AP) -- Walmart, known for its "everyday low prices" mantra, wants shoppers to think of it as a source for style and upscale fashion as it tries to reach more affluent customers.
The company is launching the Lord & Taylor store on its website in the coming weeks with more than 125 brands like Lucky Brand, Vince Camuto and Tommy Bahama. That reflects its effort to broaden its customer base, drive growth and compete with Amazon.
It's imperative for Walmart to expand beyond its low-income shoppers who are limited in how much they can spend. But the company must court higher-income shoppers without abandoning its core strategy.
Lord & Taylor has called the partnership "pivotal" for the company, which has struggled to keep customers as people shop less at department stores.