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Investing.com -- Walmart (NYSE:WMT) plans to convert Vizio into a private-label brand by the end of 2025, with sales limited to Walmart and Sam’s Club locations, according to a memo seen by Bloomberg News.
The Bentonville, Arkansas-based retail giant acquired Vizio for $2.3 billion last year as part of its strategy to expand its advertising business. Currently, Vizio TVs are available at various retailers including Amazon (NASDAQ:AMZN) and Target (NYSE:TGT), along with producing operating software.
This move represents Walmart’s ongoing efforts to integrate Vizio into its business operations and strengthen its position in the advertising industry. The company is already implementing Vizio’s operating system into its private-label TV brand onn, while developing "shoppable" TV experiences that allow viewers to purchase items directly while watching programs.
Once the transition is complete, Vizio will join Walmart’s portfolio of approximately 90 store brands. According to the memo, more than 20 of these private-label brands each generate at least $1 billion in sales.
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