Wal-Mart e-commerce investment arm names new retail startup CEO

[April 24, 2017]  (Reuters) - Wal-Mart Stores Inc <WMT.N>, the world's no.1 retailer, said its recently launched startup investment arm, Store No 8, has hired Jenny Fleiss as the chief executive of its first portfolio company.

A logo of Walmart is seen in one of the stores in Monterrey, Mexico November 28, 2016. REUTERS/Daniel Becerril/File Photo

Fleiss will run code eight, a startup that will develop personalized, one-to-one shopping experiences. Fleiss is the co-founder and former head of business development of Rent the Runway, a designer fashion rental company. (http://bit.ly/2pcJ3Xd)

Silicon Valley-based Store No 8, launched in March to expand Wal-Mart's e-commerce business, plans to work with startups that specialize in areas such as robotics, virtual and augmented reality, machine learning and artificial intelligence.

(Reporting by Richa Naidu in Bengaluru; Editing by Shounak Dasgupta)

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