WMT Wal-Mart Stores
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When news broke on Friday that Walmart was acquiring the menswear startup Bonobos, many customers responded with dismay.
“Talk about a hugely shocking disappointment,” one person wrote on Bonobos’ Facebook page. “I can’t believe my favorite clothing brand sold out this hardcore. Don’t think I’ll be able to continue my support of Bonobos any longer. Sad day.”
However, Andy Dunn, Bonobos’ founder and CEO, who is now taking on the role of senior vice president of digital consumer brands for Walmart US ecommerce, says that the decision is in line with the company’s founding ethos.
“Our company exists as a series of contrarian decisions,” Dunn wrote in a blog post on Medium that was published Friday.