Bonobos has found a new home after nearly six years under the Walmart Inc. umbrella.
This is the first joint acquisition by the two companies, which formed a strategic partnership in January when WHP bought a 60 percent stake in the Express brand.was the right brand for the two companies to start with.
“We see all upside,” said Shmidman, adding that the brand has a very loyal following and plenty of room to grow. In the meantime, Expr’s Baxter will be looking to build Bonobos in the U.S., where he said would be accretive to operating earnings and free cash flow positive this year.by storm a decade ago, the business took on a lower profile at Walmart. “We are a 43-year-old omnichannel retailer and we know we can bring a tremendous amount to the table,” said Baxter, pointing to the company’s four strategic pillars of product, brand, customer and execution.
The CEO also said Bonobos’ distinctive guide shops would hold to their strategy and operate as showrooms where customers can try on and buy looks while getting them delivered later. , which was sold in Walmart stores and is expected to be discontinued.
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