According to Recode, Walmart is in advanced talks to acquire menswear brand, Bonobos.
This would be the fourth acquisition in seven months for the company’s e-commerce CEO, Marc Lore, who’s also overseen the purchases of ModCloth, MooseJaw, and ShoeBuy.
According to Recode’s sources, the process is in the final stages of due diligence, and an undisclosed price has been agreed upon. The largest of Lore’s recent acquisitions was for $70 million, but experts expect Bonobos to sell for much more considering its strong annual revenue and a previous valuation of $300 million in 2014.
Bonobos, which is known for its hyper-personalized business model, may seem like a miss-match for the big box retailer, but Walmart’s e-com arm, Jet, has set out to buy multiple digital-native companies that appeal to a different demographic than its parent company, and that have the potential to be healthy standalone businesses without Walmart’s backing.
You can read more about it at Recode.