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June 19, 2017
NEW YORK (AP) — Walmart is buying online men's clothing retailer Bonobos for $310 million in cash, showing that its appetite for hip clothing brands shows no sign of abating as it looks for ways to gain on Amazon.
It's a sign of the aggressive direction Walmart is taking since buying Jet.com last year and keeping that company's founder as head of its online division. Walmart has since bought clothing seller ModCloth, footwear retailer ShoeBuy.com and outdoor gear seller Moosejaw as it focuses on brands appealing to younger shoppers.
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