Bonobos Co-Founder to Leave Walmart
December 12 2019 - 3:42PM
Dow Jones News
By Sarah Nassauer
Bonobos co-founder Andy Dunn is leaving Walmart Inc., two years
after selling the online apparel startup to the retail behemoth and
then taking over its efforts to acquire and build digital
brands.
Mr. Dunn, a senior vice president, will leave Walmart early next
year, he wrote in a LinkedIn message. Mr. Dunn declined to comment
on why he is leaving.
"Andy Dunn has decided now is the right time to take the next
steps in his career," said a Walmart spokeswoman.
Mr. Dunn joined Walmart in 2017 after it paid $310 million for
Bonobos, which was founded in 2007. Mr. Dunn took responsibility
for some of Walmart's then-growing collection of small e-commerce
acquisitions and digitally focused brands. Later he worked to build
new brands inside Walmart, including Allswell, a direct-to-consumer
mattress operation.
Walmart has been pairing back losses in its e-commerce
operations and selling off some of the smaller startups it acquired
in recent years. In October, Bonobos laid off some staff, and
Walmart sold Modcloth, a women's apparel retailer, to an investor
group.
(END) Dow Jones Newswires
December 12, 2019 15:27 ET (20:27 GMT)
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