May 26 (Reuters) - Gap Inc is launching a new brand of home products that will be sold exclusively on Walmart’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. (Reporting by Sahil Shaw in Bengaluru; Editing by Ramakrishnan M.)