Walmart Is About To Completely Rebrand Itself?
Walmart isn't rebranding itself, but it is rebranding its highly-popular intimates line to cater to an increase in higher-income shoppers as well as to offer more options to individuals of all body types.
One of Walmart’s most popular product lines is going by the wayside. The retailer just announced the news that it is discontinuing the Secret Treasures clothing line. But fans of the line will love the line taking its place.
Walmart first launched its Secret Treasures brand in 1999. The line of intimates and sleepwear was an instant hit. According to The Street, it accounted for over $1 billion in sales in 2021 and showed up in 1 out of 5 baskets.
Customers loved Secret Treasures for its rock-bottom prices in a category typically dominated by pricey items. Some of the great deals include $6 panties, $7 nightgowns, and $16 robes. And even after 23 years, the line remains incredibly popular among Walmart shoppers.
So, what happened? Walmart’s leadership decided now was the right time to capitalize on changes in the intimates market. Its executive vice president of apparel and private brands, Denise Incandela, said, “there’s no better time than now to introduce this brand, with the current macro trends in the market–the transformation in the intimates industry and these inflationary times when customers are looking for a better value.”
The brand she references, Joyspun, will replace Secret Treasures called Joyspun. The new line will feature socks, loungewear, underwear, hosiery, and pajamas. But the great news is that the prices won’t change much, and will range from $7.98 for sleepshirts to $34.98 for robes.
Walmart has already begun rolling out Joyspun products online and in stores. It plans to discount all remaining Secret Treasures inventory. So, if you want to snag some of your favorites at an even better price, now is the time.
Joyspun offers some new features and benefits that Walmart executives believe make it a more competitive product in the market. The trendy styles and softer fabric are one major draw. But the line also boasts a more inclusive range of sizes.
Its selection of sleepwear and underwear comes in sizes XS-XXXL. And bras will be available in sizes 34A to 46DDD. So Joyspun promises a solution for everyone’s sleepwear and loungewear needs, which is great news for its customers.
Walmart’s decision to completely revamp a sought-after product line may come at the perfect time. The Street looked at data from the intimates and sleepwear industries. They found that “the underwear market was worth $78.2 billion in 2021 and is expected to grow at a CAGR of 7.4% until 2030.”
Additionally, “sleepwear, similarly, is expected to grow by more than $13 billion at a CAGR of 9.7% until 2027.” And with competitors like Victoria’s Secret, Target, and Amazon each vying for part of that growing market, Walmart needed to carve out its own niche.
Incandela believes the company has found the perfect solution. She said, “we’re proud of the work we’ve done to rebuild and refresh our market-leading sleepwear and intimates brand in a meaningful way to make it more relevant to a broad range of customers. We feel like it’s a big unlock for an extraordinarily large business within our fashion portfolio.”
