Acquiring the clothing brand born on the internet is intended to energize Walmart’s e-commerce strategy as it races to catch up with Amazon.
NYS Entity Status
NYS Filing Date
MAY 24, 2013
NYS DOS ID#
NYS Entity Type
FOREIGN LIMITED LIABILITY COMPANY
2013 - JIE BAO, LLC
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By Emma Hinchliffe - Friday Jun 16, 2017
After two months of speculation, Walmart has confirmed it's buying Bonobos for $310 million.
The retail mega-giant will buy the men's e-commerce site to join its growing roster of online brands. Walmart has been on an acquisition spree this year, led by Jet.com founder and now Walmart U.S. e-commerce CEO Marc Lore.
Walmart bought Jet.com almost a year ago to up its competition against Amazon. Since then, Walmart has introduced more competitive free shipping, added discounts for in-store pickup that Amazon can't really offer, bought the trendy women's online retailer ModCloth, and now acquired Bonobos. Read more...More about Amazon, Ecommerce, Walmart, Bonobos, and Business
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