Wal-Mart Stores Inc (WMT) in Talks to Buy Popular Men’s Clothing Brand Bonobos

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Wal-Mart Stores Inc (NYSE:WMT) is reportedly in talks to acquire men’s clothing brand Bonobos.

Wal-Mart Stores Inc (WMT) in Talks to Buy Popular Men's Clothing Brand Bonobos

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According to reports, Wal-Mart Stores Inc’s e-commerce division is approaching the final parts of the deal to acquire Bonobos. This continues the company’s buying spree under Marc Lore, the head of its e-commerce division.

Recode claims that Wal-Mart Stores Inc and Bonobos have agreed on a price for the acquisition. However, the financial details of the deal are not currently known. The men’s clothing brand was valued at $300 million back in 2014, but has since expanded its catalog to include more clothing and products.

Lore, the founder and Jet.com, joined Walmart roughly seven months ago after it acquired his company. Since then, he has been working to acquire other brands to expand WMT’s e-commerce offerings. He said back in March that the retailer is still behind its rivals when it comes to its online offerings.

Wal-Mart Stores Inc has been working hard lately to expand its e-commerce division. The company is attempting to play catch up so that it can better compete with online retail rival Amazon.com, Inc. (NASDAQ:AMZN).

One of Wal-Mart Stores Inc’s efforts to catch up with Amazon.com, Inc. includes offering discounts to customers that pick up online orders at its stores. This effort is another idea of Marc Lore’s. He says that the retailer can afford to offer the discounts because they are cutting out the cost of shipping the products to customers.

WMT stock was up slightly as of Monday morning.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/wal-mart-stores-inc-bonobos-wmt/.

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