Walmart to buy Bonobos for $310 Million
Well that’s something.
Head here for the announcement. More info can be found here at Tech Crunch. And Andy Dunn, who’s staying on after the sale with Walmart (albeit in a new, bigger e-commerce role), wrote about the sale over at medium.
2017 has seen multiple heads roll at J. Crew. Traditional big box stores like Macy’s continue to struggle to adapt to this new age of retail. Allen Edmonds was sold to the owners of Famous Footwear back in December. Hell, Amazon just bought Whole Foods.
And now Bonobos, a company that sells $88 GYM SHORTS (think about that for a second) just got gobbled up by Walmart.