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Walmart is acquiring one of the hottest men's retailers for $310 million (WMT)

Bonobos generates between $100 million to $150 million in annual revenue and attracts young, urban customers.

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Walmart is acquiring Bonobos, the high-end men's retailer, for $310 million in cash.

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.

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Bonobos was founded by Stanford graduates Brian Spaly and Andy Dunn, who is now the company's CEO.

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.

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