Bonobos founder Andy Dunn’s LinkedIn post on Thursday, “A Love Letter to Walmart,” in which he revealed that he will remain in the employ of the world’s largest retailer only until early 2020, said volumes about how Walmart envisions its future.
Walmart Inc. in 2017 purchased for $3.3 billion Jet.com, and subsequently made a string of digital native brand acquisitions, including Bonobos. The prospects of the start-up brands such as Modcloth, Moosejaw and Eloquii in the fall were called into question by industry observers following reports that Walmart U.S. e-commerce was on track to lose $1 billion.
The Bentonville, Ark.-based giant in June said it would be integrating Jet.com into Walmart U.S. e-commerce, while eliminating the role of Jet.com president, held by Simon Belsham, who left the company in August. With Jet.com, which was a catalyst for Walmart’s digital native acquisitions, gone, Walmart in October sold Modcloth to Go Global.
“Bringing together talent from Jet.com and Walmart into joint teams has created more opportunities for our business and our people,” said Jet.com founder Marc Lore, who joined the retail behemoth as president and chief executive officer of Walmart U.S. e-commerce when his company was acquired. “We’re now merging the rest of our
Walmart Inc. in 2017 purchased for $3.3 billion Jet.com, and subsequently made a string of digital native brand acquisitions, including Bonobos. The prospects of the start-up brands such as Modcloth, Moosejaw and Eloquii in the fall were called into question by industry observers following reports that Walmart U.S. e-commerce was on track to lose $1 billion.
The Bentonville, Ark.-based giant in June said it would be integrating Jet.com into Walmart U.S. e-commerce, while eliminating the role of Jet.com president, held by Simon Belsham, who left the company in August. With Jet.com, which was a catalyst for Walmart’s digital native acquisitions, gone, Walmart in October sold Modcloth to Go Global.
“Bringing together talent from Jet.com and Walmart into joint teams has created more opportunities for our business and our people,” said Jet.com founder Marc Lore, who joined the retail behemoth as president and chief executive officer of Walmart U.S. e-commerce when his company was acquired. “We’re now merging the rest of our