Arkansas retail giant Walmart announced last week that it bought Bonobos, an online apparel company, for $310 million.
Bonobos is a menswear-focused brand that has been selling clothing online for about 10 years, according to a Walmart news release. While much of Walmart’s sales come from its superstores across the country, Bonobos is known for its online presence. It has a few in-person stores, which it calls Bonobos Guideshops, and the brand is sold in Nordstrom shops, the release said.
The Bonobos acquisition is not Walmart’s first venture into online-focused sales; in March, it bought women’s fashion site ModCloth, which is known for its feminine vintage-inspired clothing. ModCloth has a single physical store, located in Austin, Texas.
image via Walmart