After much speculation, Wal-Mart has reached a deal to acquire Bonobos for $310 million in cash. This deal could mark a major step for Wal-Mart, and it fits with the company’s ongoing digital innovation strategy.
Amazon is already dominating the headlines for its major move to acquire Whole Foods, but the internet giant wants to make sure you visit the site for your fashion purchases too.
In a very notable announcement, Amazon today launched Prime Wardrobe, which allows its Prime members to try on clothes, shoes and accessories for free. The announcement is sure to rattle brick-and-mortar retailers who are struggling to attract consumers in an online-centric climate. Wal-Mart has also been dramatically upping its fashion game online, most recently acquiring Bonobos and earlier this year snapping up Sho...more
Stich Fix, Fabletics, Trunk Club ... watch out.
Amazon just took aim at all those at-home try-on shopping subscription services—and every other e-commerce site—with Prime Wardrobe.
Prime Wardrobe is Amazon's entry into the apparel box space. The "fitting room that fits into your life" allows you to choose a bunch of clothes and accessories on Amazon to try on at home. Amazon will send you all those items for free, and then you only pay for the items you keep.
SEE ALSO: Walmart is definitely buying Bonobos for $310 million
"You have the freedom to try new styles, and th...more
With Walmart acquiring digitally-native Bonobos and Amazon-Whole Foods, both represent a step beyond Walmart’s and Amazon’s mass-market roots and into the premium market where luxury consumers live. Mortimer Singer, TRAUB, discusses implications of these deals and future directions.