Bononos, a men's clothing brand, launched online in 2007 and quickly expanded offline to open Bonobos Guideshop stores and gained a partnership with Nordstrom Inc. You may think that the $5.5 trillion United States retail industry has room for everyone to share, but Amazon and Walmart look ready to fight for every last morsel. In this role, Dunn will create new products for consumers and discover new channels through which they can buy them. Other acquisitions Walmart has made under Lore's guidance include online fashion retailer ModCloth, outdoor retailer Moosejaw and Shoebuy, a competitor to Zappos.
Bonobos' clothes and accessories will be offered on Wal-Mart's Jet.com, the company said in a statement.
In December, Jet bought online footwear seller ShoeBuy for roughly $70 million.
While Walmart keeps trying to compete against Amazon by pushing harder into online, Amazon announced a bold move into brick-and-mortar stores Friday by saying it would buy Whole Foods in a deal valued at about $13.7 billion. Even as other fashion outlets like J. Crew have seen diminishing returns of late, Bonobos is one of the few brands that continues to grow-around 30 percent year over year, Recode claims-by offering fast, no-hassle shipping and free returns, and making some pretty damn good trousers.
The acquisition, which is subject to regulatory approval, is expected to close toward the end of the second quarter or the beginning of the third quarter of this fiscal year. That means that brands that may want to sell through Wal-Mart have enhanced opportunities too, with options to sell through one site or another (or more), Jariwala said. The brands appeal to a different segment of shopper than those who frequent Wal-Mart, giving the retailer a chance to reach customers who may not stroll through its stores.
Bonobos is a menswear retailer.
The strategy is beginning to take hold: Last quarter, Walmart's USA e-commerce sales grew by 63%, although most of that growth came from Walmart's flagship website. They fit really well, and I don't want to buy them from Walmart.
In its own Facebook post reacting to the barrage of negative comments, it promised the brand wouldn't change under the new ownership.