Advertise with fastmoving.co.za
 
 

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 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 in talks to purchase another online fashion retailer

INTERNATIONAL NEWS

By Marianne Wilson - Apr 18th, 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.

© 2017 Chain Store Age. All Rights Reserved 

Read more about: walmart | retail | online |

Related News

Retail sales grow more than expected in June
18/08/2017 - 14:56
June’s retail sales grew 2.9% from the same month in 2016, taking its growth for the second quarter to 2.2%, Statistics SA reported on Wednesday.

Spree wins CXA Digital Innovator Award for first image search shopping feature in Africa
18/08/2017 - 10:18
The judges for the 2017 Customer Experience Awards (CXA) recently announced that online fashion retailer, Spree has won the Digital Innovator Award for its launch of the first image search shopping feature in Africa.

Wholesale trade sales pick up in second quarter
18/08/2017 - 09:57
Wholesale trade sales increased by 1.1% in the second quarter of 2017 compared with the same period a year ago, Statistics SA data showed on Thursday.

Truworths feels consumer pressure
18/08/2017 - 08:51
Truworths’ share price jumped almost 5% by the close of the JSE on Thursday despite the retailer reporting a contraction in earnings and little growth in full-year profit.

Forecourt convenience retail sector in SA grows despite tough trading conditions
17/08/2017 - 13:59
As the outlook for the local mainstream retail sector continues to deteriorate, expansion in the forecourt convenience retail industry continues.