Courtesy of Bonobos
Walmart is in talks to buy Bonobos, one of the hottest men's clothing brands in the US, according to Recode.
Bonobos generates between $100 million to $150 million in annual revenue and attracts young, urban customers with its slim-fitting pants, shirts, jackets, and suits.
The companies have reportedly agreed on a price and the deal is "in its final due diligence stages," Recode reported citing unnamed sources.
Walmart did not immediately respond to a request for comment.
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 ecommerce site.
Sarah Jacobs/Business InsiderIf Walmart bought Bonobos, it would be the retailer's fourth major ecommerce acquisition since Walmart purchased Jet.com last year. Since then, Walmart has also acquired ModCloth, MooseJaw, and ShoeBuy.
Bonobos was founded by Stanford graduates Brian Spaly and Andy Dunn, who is now the company's CEO.
Spaly later left Bonobos to start another men's clothing brand, Trunk Club, which sold to Nordstrom in 2014 for $350 million.
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.