American retail giant Walmart is in talks to obtain men’s clothing start-up Bonobos. According to an insider, the company is willing to depart with 300 million dollars (280 million euro) to get the deal done.
Compete with Amazon
While Walmart has a dominant retail position in the physical world, it does not have the online prowess of its major online competitor, Amazon. However, with a string of recent acquisitions, it intends to impose itself online. The latest acquisition being finalized is Bonobos, a men’s clothing web shop that also now has several physical stores.
Recently, it went on an online shopping spree, acquiring companies left and right, including fashion web shop Moosejaw, shoe store Shoebuy and another fashion web shop in the shape of Modcloth. Its biggest acquisition was Jet.com, for which it paid 3.3 billion dollars (3 billion euro).