Retail giant Walmart (WMT) is hoping to boost its fashion sales by launching a new range inspired by Meryl Streep’s upcoming movie The Devil Wears Prada 2.
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Exclusive Scoop Brand
Walmart said it was introducing The Devil Wears Prada Scoop Collection, which is described as a limited-time fashion collaboration “bringing high-fashion energy” to customers through its exclusive contemporary brand Scoop.
“The Devil Wears Prada Scoop Collection reflects Walmart’s continued focus on delivering on-trend fashion and modernizing its private brand assortment with style, quality and value at scale,” it said. “ A natural fit for Scoop — a brand known for expertly curated, trend-forward pieces and must-haves — the collection merges Scoop’s modern femininity with the iconic, aspirational style of the film’s characters, translating fashion influence into accessible style for more customers.”
The Devil Wears Prada 2 movie is scheduled for a theatrical release in the USA on May 1, this year. Distributed by 20th Century Studios, the sequel brings back original stars Meryl Streep, Anne Hathaway, and Emily Blunt.
Confidence, Polish and Fashion
“The Devil Wears Prada Scoop Collection brings together the confidence, polish and fashion influence customers love with the incredible value they expect from Walmart. Through our exclusive Scoop brand, we’re able to deliver a limited-time collection that feels stylish, versatile and culturally relevant — making incredible style more accessible for customers everywhere,” said Ryan Waymore, Senior Vice President Women’s Fashion, Walmart U.S.
The prices of the clothes, such as tailored blazers, red pumps and suiting pants range from $16 to $54. Selected pieces take inspiration from the film. The collection is being launched on April 20 both online and in stores.
When Walmart released its annual results back in February, new chief executive John Furner said that: “Fashion was a bright spot for us both in-store and online. Driving a healthier mix of sales growth in our business is important to the strategy overall, so I’m pleased with the trends we’re seeing.”
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 27 Buy and 2 Hold ratings. Its highest price target is $150. WMT stock’s consensus price target is $138.92, implying a 9.64% upside.
