Walmart buys menswear label Bonobos for $310 million

Alan Olson
June 18, 2017

Now it's trying to catch up with Amazon, the clear leader in that space, while capturing a customer that's younger, urban, and more affluent than the one it already has - the type of bro who buys his work wardrobe at Bonobos, say. She noted that Walmart can learn from these millennial customers.

It's not clear if Bonobos will continue to sell in Nordstrom, which also happened to be an investor in the startup.

Amazon's bet on the organic grocer will help the company better compete against Walmart-which is now the leading grocer -beating out competitors like Safeway (SWY) and Kroger (KR)-according to a 2015 Consumer Report that says the retailer captures about 25% of the grocery market in the USA, up from around 7% in 2002. They can order online at the store and have their clothes delivered to their homes or office a few days later. And in March, Walmart announced that it had purchased ModCloth, an online seller of women's clothing and accessories that targets customers looking for full sizes.

Dunn will remain to oversee the Walmart's collection of digitally-native vertical brands, reporting to US e-commerce chief Marc Lore, according to a Walmart press release.

"Adding innovators like Andy will continue to help us shape the future of Walmart", said Lore. "In fact, Andy will be a great influence on the company, especially in leading our collection of exclusive brands offered online". Wal-Mart expects the acquisition will create "more new products for consumers and new ways to buy them".

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Bonobos admitted: "We understand this news might come as a surprise". Walmart bought Jet.com for $3.3 billion last fall in addition to multiple smaller online-only retailers this year including MooseJaw, ShoeBuy, and ModCloth. "So with so many customers shopping there.as you're looking to grow your e-commerce presence, it's important to be where your customers are".

Walmart's newest acquisition may be small and digital, and Amazon's massive and real-world, but they're going for a very similar customer.

Walmart Agrees to Acquire Jet.com, One of the Fastest Growing e-Commerce Companies in the U.S.

Walmart bought Jet.com nearly a year ago to up its competition against Amazon.

Analysts have noted that that the acquisition could have major strategic rewards for both Walmart and Bonobos.

Other reports by GlobalViralNews

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