CriticalPoint Capital (CPC), a Californian-based private equity firm, has completed the acquisition of Shoes.com from Walmart. No financial details were released.
Shoes.com is an online retailer of footwear, apparel and accessories present in the U.S., and internationally, offering a broad assortment of athletic to casual brands for women, men, and children. It was founded in 1999 and was originally called ShoeBuy.
Created in 2012 and based in Manhattan Beach, CPC has been investing actively since 2013 into sportswear and footwear. Previous acquisitions include JackRabbit, Clever Training and Olympia Sports.
Meanwhile, Walmart decided to sell Shoes.com to CPC and the online lingerie brand Bare Necessities to the Israeli company, Delta Galil Industries after deciding to focus on its primary Walmart.com platform.
The American retailer pointed out that the two online platforms enabled it to improve customer experience, add content and substantially increase its assortment in footwear and lingerie. The company now sells most of the two product categories on Walmart.com.