Walmart will pay $310 million in cash for the internet men clothing brand. However, Bonobos clothing won't be sold on Walmart's website or stores. Instead, it will be available on Jet.com, the online marketplace Walmart recently bought for $3 billion. Bonobos is just the latest online company that Walmart has purchased, joining women's retailer ModCloth, outdoor gear supplier Moosejaw and ShoeBuy. Bonobos grew in popularity over the past decade for offering high-quality clothing and a better fit than most online retailers. Bonobos founder and CEO Andy Dunn will remain with Walmart in an expanded role, overseeing its growing collection of "digitally native vertical brands." The deal is expected to close later this year.

see press release

See Financial Times article