(Reuters) - Gap Inc (NYSE:GPS) is launching a new brand of home products that will be sold exclusively on Walmart (NYSE:WMT)'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.