Bonobos Official

Bonobos is a direct-to-consumer menswear brand that launched in 2007 with the stated goal of helping men find better-fitting clothes, using fit guides and marketing that promised to eliminate "khaki diaper butt." The brand became known for tailored menswear, particularly khakis, sold primarily online and supported by a network of physical locations the company calls "Guideshops," where customers can try on products but place orders online.

The brand has changed hands repeatedly. Walmart acquired Bonobos in 2017 for $310 million as part of Marc Lore's initiative, following Walmart's 2016 purchase of Jet.com, to add premium digital-native brands to its portfolio and compete with Amazon. Under Walmart, Bonobos operated independently alongside other acquired digitally-native brands such as ModCloth and Eloquii; its products were never sold through Walmart's website. In 2023 the brand was sold to WHP Global and Express, Inc. WHP Global acquired the Bonobos brand intellectual property and licensed it exclusively and long-term to Express for operation of the Bonobos business in the United States, while Express acquired the operating assets and assumed related liabilities. Shortly after the transaction, Express filed for Chapter 11 bankruptcy, again raising questions about the brand's ownership and future; as of the April 2024 bankruptcy filing, Bonobos stores were reported to be unaffected while Express planned to close 95 Express stores and all UpWest stores.

Founding story

Bonobos launched in 2007, co-founded by Andy Dunn, with the goal of helping men find better-fitting clothes with the help of fit guides.

Business model

Direct-to-consumer sale of men's clothing and accessories, primarily online, supplemented by Guideshop retail locations where customers try on products and place orders online, plus wholesale partnerships added over time. Following the 2023 transaction, the brand's intellectual property is owned by WHP Global and licensed to Express, Inc., which operates the U.S. business.

Product sales of men's clothing and accessories through e-commerce, Guideshops, and wholesale channels.

Traction

Reported to be on track for approximately $150 million in sales in 2017. Express indicated Bonobos was on track for $125-150 million in revenue across the second through fourth quarters of 2023, implying annual revenue of roughly $200 million; Bonobos contributed $52.1 million in sales to Express in the third quarter of 2023. Guideshop count grew from about 35 to more than 60 under Walmart ownership.

Latest developments

In May 2023 WHP Global closed the joint acquisition of the Bonobos brand with Express, Inc., licensing the IP exclusively to Express for U.S. operations. In April 2024 Express filed for Chapter 11 bankruptcy; its announced store closures covered 95 Express stores and all UpWest stores, with Bonobos stores reported as unaffected. Coverage in September 2024 described Bonobos as facing another ownership change, with its future under Express's bankruptcy proceedings uncertain.