Walmart in talks to purchase another online fashion retailer
By Marianne Wilson - Apr 18th 2017, 10:41
Walmart reportedly is about to make its fourth e-commerce acquisition in seven months as the chain continues to beef up its online arsenal and fashion offerings against Amazon.
Walmart is in advanced discussions to acquire Bonobos, an e-commerce-driven apparel company that designs and sells upscale men’s clothing, for about $300 million, reported Bloomberg. Founded in 2007, the brand is known for its hip, stylish threads and expert fit.
Most recently, Bonobos has been growing its physical footprint. It currently operates some 31 stores (which it calls “guideshops”) nationwide. It also some of its goods at Nordstrom.
Walmart has been on a buying spree of sorts under the director of Marc Lore, president and CEO of the chain’s U.S. e-commerce division, who came on board when the discounter bought Lore’s Jet.com last year.
In March, Walmart acquired online young women’s apparel and accessories site Modcloth. Prior to that, in February, the discounter acquired outdoor gear online retailer Moosejaw for $51 million. In January, it bought ShoeBuy for $70 million.
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