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lakeelmoleader.com August 19, 2017


Walmart to acquire online men's clothing retailer Bonobos

18 June 2017, 02:20 | Ruben Fields

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Walmart is buying menswear online seller Bonobos, intensifying retail competition with Amazon on the same day its archrival announced its acquisition of Whole Foods.

Walmart has made it clear that the brands will continue as standalone sites, and executives from those companies have sought to ensure loyal customers that little will change.

But it reflects Walmart's bid to grow its customer base into niche areas where its stores are not as strong. In 2012, Bonobos expanded its distribution partnering with Nordstrom, bringing Bonobos apparel into all 118-doors nationwide and to Nordstrom.com.

Bonobos is one of the first apparel brands to launch and build its business primarily online. It makes a nice collection with other brands that Jet has acquired recently, which include women's clothing retailer ModCloth and outdoors retailer MooseJaw.

After the deal closes, Bonobos founder and CEO Andy Dunn will move over to Walmart's U.S. e-commerce division under Marc Lore, former CEO of Jet.com and current chief of Walmart's online operations, to oversee the company's collection of digitally-native vertical brands. They can order online at the store and have their clothes delivered to their homes or office a few days later.

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"Adding innovators like Andy will continue to help us shape the future of Walmart", said Lore.

Customers have expressed their dismay on social media, saying that they news has convinced them to ditch the brand.

Bonobos founder and CEO Andy Dunn will report to Lore, and Bonobos could still stay a separate brand from Walmart-not necessarily sold in Walmart stores or even on Walmart.com. "He and I will now leverage our combined know-how and, with the biggest company in the world behind us, take on creating the leading vertical e-commerce platform". Walmart's efforts in e-commerce are empowering customers with low prices, more choices and new levels of convenience.

But after sitting down with the teams from Walmart and Jet.com and hearing their vision for Bonobos, "my mind exploded", Dunn wrote.

"That will enhance the customer experience for our existing customers, " he said, while Walmart "can help the business of the companies that are new to our e-commerce family through synergies, through efficiencies in cost of goods and shipping rates".



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