Walmart to acquire online men's clothing retailer Bonobos

According to commentators the move would give Amazon a significant advantage in the food retail business (See: Amazon to by Whole Foods, sends jitters thru U.S. grocery market). Lore added that Dunn will help "shape the future" of Walmart and the "future of retail".

Bonobos is one of the first apparel brands to launch and build its business primarily online.

Admittedly, today's most mind-blowing acquisition news is that Amazon is purchasing Whole Foods for $13.7 billion, furthering what seems like its mission to take over every aspect of consumers' lives.

Bonobos' clothes and accessories will be offered on Wal-Mart's Jet.com, the company said in a statement.

The payoff from Walmart's recent acquisitions, starting with Jet, has been swift: In its most recent quarter, Walmart's e-commerce sales ballooned 63% with an attendant 69% rise in digital gross merchandise volume.

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Rumors had been circulating of the deal between Bonobos and Walmart for a while, and as predicted, this in part is a way to bring Andy Dunn, who had founded and was leading Bonobos, into a wider leadership role at Walmart running all of its fashion and related lifestyle operations. Many of these have been fuelled by its acquisition of Jet.com, which it purchased in 2016 for $3 billion. "In fact, Andy will be a great influence on the company, especially in leading our collection of exclusive brands offered online".

Dunn will remain to oversee the Walmart's collection of digitally-native vertical brands, reporting to USA e-commerce chief Marc Lore, according to a Walmart press release. Two months later, Walmart scooped up Moosejaw, an online outdoor gear and clothing retailer. In addition to acquiring existing online retailers like Jet.com and Bonobos, Walmart is building more and larger fulfillment centers to process orders more efficiently and outfitting it's 4,700 stores to work hand in hand with online.

Big Picture: Walmart has been expanding its online offerings to keep up with Amazon.com, buying clothing company Bonobos on Friday.

In March 2016, the also bought Hayneedle in March 2016, and Zappos-style shoe retailer ShoeBuy for $70 million from IAC.

"We believe that with Walmart's scale, we'll be able to create efficiencies and an evolved shopping experience that benefits you, our customers". "They have access to brands, buying teams ... they have merchants and software engineers that might not move to Bentonville or Silicon Valley", he said.

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