Bonobos’ Andy Dunn departs Walmart, shy of reinvention goals
December 13, 2019
When Andy Dunn, founder of Bonobos, sold his company to Walmart two years ago for $310 million, he signed on to spur the mass retailer’s run to catch-up to Amazon by piloting recently acquired digitally native brands that would help connect with Millennials and other desirable consumer segments. But, under the leadership of Marc Lore, Walmart has cooled its e-commerce jets somewhat, and brands like Bonobos and Eloquii remain unprofitable, according to some reports. In announcing his departure, Walmart said Mr. Dunn is still “an entrepreneur at heart.”
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