Walmart is buying Bonobos for $310 million

Wal-Mart Stores Inc. of Bentonville announced Friday that it will buy online apparel retailer Bonobos Inc. for $310 million in cash. Walmart has focused on brands appealing to younger shoppers. She noted that Walmart can learn from these millennial customers. It also has a partnership with Nordstrom. The startup joins online shoe retailer Shoebuy (a challenge to Amazon's Zappos), online outdoor retailer Moosejaw, and vintage-inspired online women's apparel seller Modcloth in a string of acquisitions by the brick-and-mortar retail giant under Lore since its $3.3 billion purchase of Lore's Jet.com previous year. Bonobos founder and CEO Andy Dunn will remain with Walmart in an expanded role, overseeing its growing collection of "digitally native vertical brands". "I can't believe my favorite clothing brand sold out this hardcore". "Adding innovators like Andy will continue to help us shape the future of Walmart, and the future of retail".

Even Bonobos founder Andy Dunn publicly admitted that being associated with Walmart has baggage, and he said in a blog post that after the offer initially landed, he thought "no way". "In fact, Andy will be a great influence on the company, especially in leading our collection of exclusive brands offered online".

"We began Bonobos 10 years ago to give men a completely different product and shopping experience: better-fitting, higher-quality clothing, in new and imaginative ways", Dunn said. "And at the same time these acquisitions do allow us to reach essentially new customers that may have not shopped within our ecosystem in the past".

Wal-Mart is the world's largest physical retailer, but it has been building out an online fashion business as well.




Another wrote: "This screams, "we have no idea who our customer is" Good luck".

When news broke on Friday that Walmart was acquiring the menswear startup Bonobos, many customers responded with dismay.

The incursion by Amazon increases pressure on Wal-Mart to improve its e-commerce business - something the Bonobos deal is meant to address.

Under Lore's direction, Walmart also has been working accelerate the integration between Walmart.com and Jet.com, and trying to take advantage of its scale in areas like shipping and sharing its products.

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