Walmart is acquiring Bonobos, a high-end men’s retailer, for $US310 million, The New York Times reported Friday morning.
Bonobos generates between $US100 million to $US150 million in annual revenue and attracts young, urban customers with its slim-fitting pants, shirts, jackets, and suits.
Bonobos, founded in 2007, generates most of its sales online. It has a handful of physical stores in major cities that it calls “guideshops” where customers can work with a personal shopper and try on clothing. But all purchases from the stores still must be made online.
Nordstrom invested in the company in 2012 and started carrying the brand in stores and on its ecommerce site.
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