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.

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