Wal-Mart to Buy Bonobos


Bentonville, Ark.-based retail giant Wal-Mart has announced that it will buy New York-based menswear brand Bonobos for $310 million. The purchase comes as part of the retailer’s efforts to overhaul its business model to better compete with Amazon.

According to the New York Times, Wal-Mart will not be selling the brand in-store, but rather using the deal as an opportunity to learn. Wal-Mart has recently purchased a number of businesses including Jet.com last year for $3.3 billion. Start-ups like Modcloth and Shoebuy.com also were obtained.

Wal-Mart oversees 4,177 U.S. locations.

Share

More News

Wegmans Announces Sixth Massachusetts Location
August 18, 2017
Rochester, N.Y.-based grocer Wegmans has announced plans to launch a new outpost at Natick Mall in Natick, Mass.
Full Story

The Home Depot Plans Rollout of Rooftop Solar Powers
August 18, 2017
Atlanta-based hardware retailer The Home Depot has revealed plans to install solar panels atop 50 locations.
Full Story

design:retail Industry Survey Deadline Extended
August 18, 2017
The deadline for design:retail’s annual retail industry survey has been extended to August 28.
Full Story