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Walmart buys online men’s clothing retailer Bonobos

SFGate Friday, 16 June 2017 ()
Walmart is buying online men’s clothing retailer Bonobos for $310 million in cash, showing that its appetite for hip clothing brands shows no sign of abating as it looks for ways to gain on Amazon. Walmart has since bought clothing seller ModCloth, footwear retailer ShoeBuy.com and outdoor gear seller Moosejaw as it focuses on brands appealing to younger shoppers. Yet even as Bonobos has become a more conventional retailer, it has maintained its online approach, offering generous shipping and return policies and calling its customer-service agents ninjas. While Walmart keeps trying to compete against Amazon by pushing harder into online, Amazon announced a bold move into brick-and-mortar stores Friday by saying it would buy Whole Foods in a deal valued at about $13.7 billion. At Bonobos showrooms, called Guideshops, customers can try on pants, shirts, ties, belts and jackets with suggestions from stylists. Under Lore’s direction, Walmart also has been working accelerate the integration between Walmart.com and Jet.com, and trying to take advantage of its scale in areas like shipping and sharing its products. Walmart also is starting to offer discounts on thousands of online-only items when customers elect to have them shipped to one of the company’s stores for pickup. Walmart has also created an incubator lab focused on projects in robotics, virtual and augmented reality, and artificial intelligence.
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Source: Wibbitz Studio - < > Embed

News video: Bonobos is going to Walmart for $310 million

Bonobos is going to Walmart for $310 million 01:03

After two months of speculation, Walmart confirmed it's buying Bonobos for $310 million. The retail giant will buy the men's e-commerce site to join its growing roster of online brands. Walmart has been on an acquisition spree this year, led by Jet.com founder and now Walmart U.S. e-commerce CEO Marc...

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