Wal-Mart is reportedly about to buy the hottest men's clothing brand
Walmart is in talks to buy Bonobos, one of the hottest men's clothing brands in the US, according to Recode.
Bonobos generates between $100 million to $150 million in annual revenue and attracts young, urban customers with its slim-fitting pants, shirts, jackets, and suits.
The companies have reportedly agreed on a price the deal is "in its final due diligence stages," Recode reported citing unnamed sources.
Bonobos, founded in 2007, generates most of its sales online. It has a handful of physical stores in major cities that it calls "guideshops" where customers can work with a personal shopper and try on clothing. But all purchases still must be made online.
See the retail brands young people love the most:
Nordstrom invested in the company in 2012 and started carrying the brand in stores and on its ecommerce site.
If Walmart bought Bonobos, it would be the retailer's fourth major ecommerce acquisition since Walmart purchased Jet.com last year. Since then, Walmart has also acquired ModCloth, MooseJaw, and ShoeBuy.
Walmart did not immediately respond to a request for comment.
Bonobos was founded by Stanford graduates Brian Spaly and Andy Dunn, who is now the company's CEO. Spaly later left Bonobos to start another men's clothing brand, Trunk Club, which sold to Nordstrom in 2014 for $350 million.
Five Guys' franchisees founded a grilled cheese shop — and now it's expanding
The Tinder co-founders are investing in a $53 billion food opportunity no one ever talks about
Walmart has a new kind of discount — and it's impossible for Amazon to beat