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American department store chain Walmart acquired clothing chain Bonobos for 310 million dollars (280 million euro). It now has full control over more than thirty stores and a web shop.
Online identity
Founded ten years ago in New York, Bonobos initially sold pants through a web shop. Since then, it expanded into a men’s collection and opened a network of stores. It also has shop-in-shops at department store chain Nordstrom, which invested into the company when it was still in its infancy.
Despite the fact that it was an online player that evolved into a traditional retailer, it still has close ties to its online origin. Online consumers still get a range of benefits and customers in its physical stores do not get to take home their clothes right away, but get a delivery sent to their home.
It is highly probable that Bonobos’ online features appealed to Walmart, because the department store giant has turned its gaze onto online shopping in the past few years. Its goal is to compete with Amazon, with purchases like this and fashion web shop Modcloth, acquired in March for 80 million dollars (75 million euro).
Bonobos CEO gets important position
Amazon has become Walmart’s major competitor, moving into the exact opposite direction, targeting physical stores as a possible acquisition. Supermarket Whole Foods’ recent acquisition is prime example of Amazon’s intentions in the physical retail landscape.
Andy Dunn, Bonobos’ founder and CEO, will take charge of Walmart’s online fashion brands. At this moment in time, there is no intention to sell Bonobos items in any of Walmart’s more than 5,000 stores.
