BENTONVILLE, Ark. — Marc Lore, who helped spearhead Walmart’s ongoing transformation into a truly omnichannel retailer, is leaving the company on January 31. He will continue on as a strategic advisor until September, the company said.
His departure comes as Walmart continues to face off with Amazon and a host of other retailers, including Target and Kroger, for dominance in an online retailing sector that has become even more central to the lives of American consumers because of the COVID-19 pandemic. During Lore’s tenure as president and chief executive officer of Walmart U.S. eCommerce, the company has made great strides in leveraging its physical stores as pickup sites and distribution centers for online orders. Walmart was recently honored as MMR’s Omnichannel Retailer of the Year for 2020.
Lore was appointed in September 2016 to lead Walmart’s U.S. e-commerce business when Walmart acquired his company Jet.com.
Jet.com introduced radical price innovation in e-commerce by optimizing the underlying economics of online shopping and unbundling the embedded retail costs that drive up price, creating an entirely new business model that works better for both customers and merchants.
Prior to Jet, Marc was the co-founder and CEO of Quidsi, the parent company of e-commerce websites Diapers.com, Soap.com, Wag.com and more. The company was founded in 2005 and sold to Amazon in 2011 for $550 million. Marc was also the co-founder and CEO of The Pit, Inc., an Internet market-making collectible company constructed as an alternative to eBay. The Pit was sold to the Topps Company in 2001.