• CNBC has an interview with Bonobos’ CEO Micky Onvural, in which she says that "the men’s clothing brand has learned a lot since it was acquired by Walmart for $310 million two years ago, but it’s benefited from being able to maintain some space from the big-box retailer."
According to the story, "Onvural said that when Bonobos was acquired, Walmart CEO Doug McMillon said he wanted to 'hug [Bonobos] — but not too tight.' McMillon didn’t want to 'strangle innovation' at Bonobos after the deal was done, Onvural said. 'We’ve been very lucky ... [and] it doesn’t look like [that’s] going to change anytime soon'."
While there was some backlash after the acquisition by customers who were afraid that Walmart would ruin the company's culture, she says that "customers shouldn’t be able to notice many differences when they go in one of Bonobos’ showrooms." One place where Walmart has been able to help - "from shipping contracts to real estate deals, Bonobos has benefited from Walmart’s experience."
CNBC says that while there were rumors that Walmart might sell off the still-unprofitable brand, for the moment it appears that those plans may have been shelved.
According to the story, "Onvural said that when Bonobos was acquired, Walmart CEO Doug McMillon said he wanted to 'hug [Bonobos] — but not too tight.' McMillon didn’t want to 'strangle innovation' at Bonobos after the deal was done, Onvural said. 'We’ve been very lucky ... [and] it doesn’t look like [that’s] going to change anytime soon'."
While there was some backlash after the acquisition by customers who were afraid that Walmart would ruin the company's culture, she says that "customers shouldn’t be able to notice many differences when they go in one of Bonobos’ showrooms." One place where Walmart has been able to help - "from shipping contracts to real estate deals, Bonobos has benefited from Walmart’s experience."
CNBC says that while there were rumors that Walmart might sell off the still-unprofitable brand, for the moment it appears that those plans may have been shelved.
- KC's View:
