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Walmart to acquire online men's clothing retailer Bonobos

18 June 2017

The brands Dunn will be responsible for, including Bonobos and the recently acquired ModCloth, will be offered on Jet.com and possibly other Walmart venues in various countries over time.

Building up Walmart.com was the first step.

What do all of these names, plus Bonobos and Jet.com, which it acquired last August for $3 billion, have in common? Women's online retailer ModCloth drew a similar negative reaction after it was snapped up by Walmart earlier this year. They're e-commerce ventures. Though Walmart is America's biggest corporation, bringing in revenue of $485.9 billion during fiscal 2017, it has historically relied too heavily on its brick-and-mortar stores to drive growth and failed to innovate in online shopping.

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Walmart has long trailed Amazon.com in online sales but is investing heavily to keep up and the company said online sales increased 63% in its last quarter. But elsewhere on the shopping front, there was another significant move: Bonobos, the menswear brand that launched 10 years ago with the promise of offering dudes better fitting trousers, has sold to Walmart.

These shoppers' visceral reactions to the news might have something to do with there being little overlap in the customers of Bonobos and those of Walmart.

"Adding innovators like Andy will continue to help us shape the future of Walmart, and the future of retail", Lore said in a statement. I'm thrilled to welcome Andy and the entire Bonobos team. "We will be extending what we have learned to a wider ecosystem that we have helped create and come to love". They've created an awesome product and customer experience, and that will not change. "That will always remain our mission", Dunn said.

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Bonobos is a clothing brand focused on delivering great fit, excellent customer experience, and a fun approach to menswear. Its backers also included Nordstrom, which sold the brand's products in its department stores. The fundraising efforts were complicated by the fact that Bonobos had already raised more than $120 million, which was a large amount for a company of its size.

"Dominant players like Wal-Mart, Kroger, Costco, and Target now have to look over their shoulders at the Amazon train coming down the tracks", said Charlie O'Shea, lead retail analyst at Moody's Investors Service.

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Walmart to acquire online men's clothing retailer Bonobos