Gap ties up with Walmart to launch home products line By Reuters

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© Reuters. FILE PHOTO: A Gap Inc. retail store is shown in La Jolla, California, U.S., May 17, 2017. REUTERS/Mike Blake

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(Reuters) – Gap Inc (NYSE:) is launching a new brand of home products that will be sold exclusively on Walmart (NYSE:)’s website in June, the companies said on Wednesday, as the apparel retailer looks to diversify its business.

The home goods market has boomed over the past year as the COVID-19 pandemic drove millions into isolation and spend more on their living spaces.

According to Euromonitor, the U.S. home furnishings market is about $163 billion.

Gap said its home furnishings will feature more than 400 items including tabletops, bedding and bath products, and will be available from June 24.

Prices will range from $15.88 for a pillow to $64.98 for a comforter, the companies said, adding that Gap is the first fashion retailer to get into a multi-year partnership with Walmart in the home space.

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