Bonobos' CEO Micky Onvural explains how the men's clothing brand with somewhat of a cult-like following has both benefited from being owned by Walmart, and how it's kept its distance.
Manan Vatsyayana | AFP | Getty ImagesWalmart
"There are so many businesses that reach the scale that Bonobos had [in 2017] ... and flounder and die," she said Tuesday at CNBC's Evolve Conference in Chicago. "We had this strong brand growing really fast. And we needed to get to that inflection point. I think that's where Walmart has really helped us ... to continue to scale."
"What hasn't changed is we want to really protect our culture, our brand and the customer experience," she told the audience. In other words, customers shouldn't be able to notice many differences when they go in one of Bonobos' showrooms. The brand did see some backlash when the deal was announced from shoppers who took to social media to vow they would no longer shop there. They were afraid it would lose its authenticity. Vox reported earlier this year that, but that Walmart was still planning to hold on to the brand after contemplating a sale.
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