Walmart is acquiring Bonobos, the high-end men’s retailer, for $310 million in cash. Bonobos generates between $100 million to $150 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 e-commerce site.
Walmart has acquired a number of e-commerce companies in recent years. It purchased Jet.com last year for $3.3 billion. Since then, Walmart has also acquired ModCloth, MooseJaw and ShoeBuy.
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