Walmart buys men’s online clothing retailer Bonobos for $310M

Walmart Stores Inc. announced Friday it will acquire men's online clothing retailer Bonobos for $310 million. Photo by Ken Wolter/Shutterstock

June 17 (UPI) — Walmart Stores Inc. announced Friday it will acquire online menswear retailer Bonobos for $310 million.

In addition to its website, Bonobos has 35 brick-and-mortar locations under the name Guideshops in the United States. Its market strategy differs from that of Walmart, Bonobos CEO Andy Dunn said in a statement Friday.

“We began Bonobos 10 years ago to give men a completely different product and shopping experience: better fitting, higher quality clothing, in new and imaginative ways. That will always remain our mission.”

The acquisition is part of a broad Walmart plan to enter niche areas on its website where its brand is not strong, USA Today said. In March it bought ModCloth, an online retailer of women’s vintage-inspired clothing.

The announcement came on the same day Walmart rival Amazon said it acquired Whole Foods Market for $13.7 billion. It sent stock prices of many grocery chains downward; Walmart shares were down 5.2 percent in early trading.

Dunn will remain Bonobos CEO and will oversee Walmart’s other online brands.


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