Walmart goes after furniture retailers with a private label

Walmart has launched a private-label furniture brand called MoDRN, a line of 650 products, ranging from sofas to dinnerware.

Why it matters: It's a direct hit to big furniture retailers like Wayfair and Ikea, and it's a challenge to Walmart's biggest rival, Amazon, which is also digging its heels into private-label products like batteries and mattresses. Both retail behemoths are using their massive customer bases and troves of shopper data to develop private products that can dominate the market.