Courtesy of Bonobos
Bonobos founder Andy Dunn.
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 2008, generates all of its sales online. It has a handful of 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.
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.