Three years after acquiring Jet for $3 billion, Walmart announced today that it is now more fully integrating Jet’s teams into Walmart. Jet will continue to operate as a standalone brand, mainly in large cities.
Jet president Simon Belsham will support the transition through early August. After that, Jet will be managed by Kiernan Shanahan, Walmart senior vice president of food, consumables and health and wellness and the lead of Walmart Ecommerce’s Everyday Living category. Jeff Saunders, Jet’s vice president of operations and tech lead, will lead the integration of Jet into the Everyday Living team.
In a blog post announcing the transition, Walmart Ecommerce president and CEO Marc Lore explained that the company decided to fold the rest of Jet’s teams into Walmart because “Across most of the country, we saw we could get a much higher return on our marketing investments with Walmart.com, so we’ve dialed up our marketing spend there. However, in specific large cities where Walmart has few or no stores, Jet has become hyper focused on those urban customers.”
“While this has made Jet smaller from a sales perspective, it has helped us create a smart …read more
Source: Tech Crunch