Bonobos generates between $100 million to $150 million in annual revenue and attracts young, urban customers.
Walmart is acquiring Bonobos, the high-end men's retailer, for $310 million in cash.
Bonobos generates between $100 million to $150 million in annual revenue and attracts young, urban customers with its slim-fitting pants, shirts, jackets, and suits.
Bonobos, founded in 2007, generates most of its sales online. It has a handful of physical stores in major cities that it calls "guideshops" where customers can work with a personal shopper and try on clothing. But all purchases from the stores still must be made online.
Nordstrom invested in the company in 2012 and started carrying the brand in stores and on its e-commerce site.
Walmart has acquired a number of e-commerce companies in recent years. It purchased Jet.com last year for $3.3 billion. Since then, Walmart has also acquired ModCloth, MooseJaw, and ShoeBuy.
When it was reported in April that Walmart was in talks to buy Bonobos, some loyal fans of the suitmaker were disturbed by the news.
Customers expressed their dismay on social media, calling the potential acquisition "brand suicide" and threatening to never shop at Bonobos again if it's acquired by Walmart.
"Bonobos just lost a customer," one person wrote on Twitter. "I do love the stretched washed chinos but no offense, I won't go to Walmart for my clothing."
Bonobos was founded by Stanford graduates Brian Spaly and Andy Dunn, who is now the company's CEO.
Spaly later left Bonobos to start another men's clothing brand, Trunk Club, which sold to Nordstrom in 2014 for $350 million.
Dunn told Business Insider's Richard Feloni in 2015 that he wasn't looking for a buyout like Trunk Club's for Bonobos.
"Call me crazy, but I'm hoping we can build something standalone," Dunn said.