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....
- TPP: now the real fight starts
- Why TPP implementation is far from a done deal
- Private label sourcing faces range of pressures
- Cambodia leads US apparel import growth in August
- Can Gap maintain its momentum minus Larsson?
- Update: Negotiators agree landmark TPP trade deal
- Cambodia sets new minimum wage at US$140
- Nike debuts new fabric for adaptive breathability
- New Bangladesh labour rules draw union criticism
- Vietnam releases new textile dye regulations
- Wearable technology: The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Outdoor performance apparel: peaks, valleys, and green fields
- Ethiopia – the emerging textile and clothing industry