By Dan Frommer.
When Walmart — the largest U.S. retailer — acquired Bonobos — a somewhat yuppie mens clothing brand — for $310 million in June, it seemed a bit surprising.
First, because Walmart — via its Jet subsidiary, but still, Walmart — was buying a somewhat yuppie mens clothing brand.
And second, because Bonobos, one of the more promising of this current wave of digital-native apparel brands, was selling out for maybe less than it eventually could have, and not trying to make it huge as a standalone, public company.
Read more at Re/code.