US: Nordstrom backs US$16.4m investment in Bonobos
Upscale department store operator Nordstrom has partnered with private equity firms to invest US$16.4m in online clothing brand Bonobos, and will become the first bricks-and-mortar retailer to sell its apparel.
The department store operator led the minority investment round with full participation from insiders, including Silicon Valley-based venture capital firms Accel Partners and Lightspeed Venture Partners.
Nordstrom will sell Bonobos men's chino's and non-iron cotton trousers at its full-line stores and online. Some seasonal pants and shorts will also be available.
Bonobos at Nordstrom will be the first time the brand is available in-store and online outside Bonobos.com and the company's New York headquarters' showroom store.
"Our investment with Bonobos will enable Nordstrom to participate in the young company's phenomenal growth, and we look forward to what we can learn from each other as we build the business together," said Jamie Nordstrom, president of Nordstrom Direct.
"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," added Andy Dunn, founder and CEO of Bonobos.
Bonobos launched in 2007 online with its signature line of men's pants. It is now the largest apparel brand built online in the US.
A strong end to the back-to-school shopping season contributed to the solid sales results rung up by many US clothing and footwear retailers in September - but economic and political uncertainty conti...
The following is a general roundup of US apparel and shoe retailers' September 2012 sales results....
US retail sales in August were boosted by back-to-school shoppers, with most retailers booking sales gains over the month. ...
The following is a general roundup of US apparel and shoe retailers' August 2012 sales results. ...
The following is a general roundup of US apparel and shoe retailers' July 2012 sales results....
Upscale department store operator Nordstrom has revealed it will open its first retail store in Canada in autumn 2014 following talks with developers....
Upscale department store operator Nordstrom has raised its full-year profit guidance, despite posting a fall in second-quarter net income....
- Slow fashion: a fast-growing opportunity?
- Rethink needed as low-cost labour options dwindle
- China's apparel sector ponders sustainability
- US textile and apparel trade and sourcing snapshot
- African apparel sector needs cooperation to thrive
- Tazreen Fashions compensation agreement outlined
- Puma commits to 100% PFC removal
- Gap unveils management changes as Q3 profit rises
- Long-term partnerships key to Adidas sourcing mode
- Long-running SL Garment dispute settled