Wal-Mart says it will sell $1.9 million worth of Amazon laundry detergent and a $1 million worth from its own laundry product online
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Walmart has announced a $2.7 million online sale of its own brand of laundry detergents and a laundry bag that replaces the company’s own product.
The online sale was announced on Tuesday, and Walmart says it has sold 2.9m of its detergent products since its launch last year.
The laundry bag will replace the company bag, which Wal-mart sells at Wal-Marts stores, Wal- Mart stores and online.
The new product will be available on Wal-marts, Walmart.com, Amazon.com and other sites, and will be a standalone product for $5.99 per unit.
The announcement comes as Walmart’s share price has slumped to its lowest point since mid-September after the retailer said it was ending its relationship with Amazon following the release of a sexual harassment complaint.
Walmart has been battling with Amazon for more than a year over its relationship and whether its brand is still strong enough to compete with the e-commerce giant.
In a blog post on Tuesday morning, Walmarts chief financial officer Michael Zwiebel said that Walmart’s laundry deterger was an example of how Walmart can continue to be an effective customer experience.
“It’s a great example of the breadth of our products and services, and how we’ve built strong relationships with many of the leading retailers,” he said.
“We look forward to seeing this new product, and we’re also excited to be able to continue working closely with Amazon to further develop our relationships.”
Wal-Mart’s announcement comes at a time when the ecommerce giant is also being targeted by the US government.
Last week, the US Department of Justice announced it was seeking to freeze $US1.2 billion ($1.7 billion) in assets and $US8 million ($8.2 million) in profits in connection with a probe into alleged illegal payments made by Walmart to suppliers.
Wal-mart said it would stop selling products from the online retailer after the government’s announcement.
“While Walmart is not the only online retailer that has been accused of illegal business practices, our decision to stop selling its laundry detergen is based on a comprehensive review of the allegations, as well as the long-standing relationship we have with the supplier,” Zwiesbel said in a statement.
Walmart had said last year it would halt the sale of laundry products from its website by mid-February, and then start offering those products at select stores.
At the time, Walmart chief financial analyst Brian Gendron said the company was looking to “cut our losses” on Amazon’s laundry products.
Walmart has announced a $2.7 million online sale of its own brand of laundry detergents and a laundry bag that…