Marc Lore’s next attempt to woo the affluent consumer: A fleet of on-demand food trucks

  • Date: 06-May-2021
  • Source: CNBC
  • Sector:Retail
  • Country:Middle East
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Marc Lore’s next attempt to woo the affluent consumer: A fleet of on-demand food trucks

The business is still in stealth mode, but there's nothing covert about Marc Lore's latest venture for residents of Westfield, New Jersey. Its purple and black vans congregate in the parking lot of a shuttered Lord & Taylor department store and line up across the street from a Stop & Shop supermarket. Generators hum as the vans wait to head out into the surrounding neighborhood to prepare freshly cooked meals. After departing Walmart at the end of January, the serial entrepreneur has joined his brother, Chad Lore, to invest in Wonder, a business that is part food truck, part ghost kitchen, CNBC has learned. Scott Hilton, a longtime colleague of Marc Lore's and former chief revenue officer of Walmart's e-commerce business, is Wonder's chief executive, a person familiar with the investment said. Chad Lore also holds a top role, while Marc is serving in an advisory capacity, said the person, who requested anonymity since the business is still in an early stage. Marc Lore, 49, is most known for creating innovative e-commerce businesses and selling them to corporate giants like Amazon and Walmart.He helped found Quidsi, the parent of Diapers.com, and sold it to Amazon for $545 million in 2010. Six years later, Walmart