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Bonobos, Inc. the largest clothing brand launched on the internet in the US, announced today that it will become the first clothing brand of its kind to launch on the web, get to scale, and then extend offline. A partnership has been announced with Nordstrom who will sell Bonobos clothing at Nordstrom full-line stores and on Nordstrom.com.
Bonobos announced that the deal, a $16.4 million investment led by Nordstrom, will include full participation from insiders, including Silicon Valley-based venture capital firms Accel Partners and Lightspeed Venture Partners.
"We understand there are people who still want to touch and feel clothing before they purchase. We realised we needed help expanding beyond our web-only roots. Nordstrom is the leader in retail customer service and they are incredibly innovative. We admire their leadership team and feel lucky to be in business with them," said Andy Dunn, Founder and CEO of Bonobos.
Launched in 2007 as an online only pants retailer, Bonobos is known to produce clothing that has an exceptional fit and unique energy. Bonobos have previously stocked clothing at the company's headquarters showroom in New York, but this will be the first time the brand is available in-store outside of the Bonobos brand.
The partnership is set to begin immediately, with Nordstrom stocking Bonobos top two product lines, the best-selling Washed Chinos, and the Bonobos Weekday Warriors, a collection of non-iron cotton trousers.
This acquisition marks Nordstrom's continued commitment to innovation at the height of retail and technology. Last March, the company completed an acquisition of HauteLook, an online retailer that offers flash sales on top fashion and lifestyle brands.
For more information on the retail industry, see the latest market research: Leading Global Clothing, Footwear, Accessories and Luxury Goods Retailers - Company Benchmarking Analysis Report
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