Bonobos Press Release: Bonobos and Nordstrom Announce Partnership
Bonobos and Nordstrom Announce Partnership:
Customer Centric E-tailer Moves Offline with Retail Service Pioneer
Nordstrom Leads $16M Investment Round in Web-Driven Clothing Brand Bonobos
New York, NY (April 12, 2012) — Bonobos, Inc. (www.bonobos.com), the largest clothing brand launched on the internet in the United States, announces that Nordstrom (NYSE: JWN) will now sell Bonobos clothing at Nordstrom full-line stores and on Nordstrom.com. This establishes Bonobos, known for its energetic line of better-fitting men’s pants, as the first clothing brand of its kind to launch on the web, get to scale, and then extend offline.
In tandem, Bonobos announces the close of a $16.4 million minority investment round led by Nordstrom and with full participation from insiders, including Silicon Valley-based venture capital firms Accel Partners and Lightspeed Venture Partners.
“Partnering with retail legend Nordstrom was an easy decision. As I spent time with Blake, Pete, Erik and Jamie Nordstrom, it became clear that while they are much further along than we are, we share the same focus on creating a fantastic customer experience,” states Andy Dunn, founder and CEO of Bonobos. “We understand there are people who still want to touch and feel clothing before they purchase. We realized we needed help expanding beyond our web-only roots. Nordstrom is the leader in retail customer service and they are incredibly innovative. We admire their leadership team and feel lucky to be in business with them.”
Bonobos clothing is known for exceptional fit and colorful energy. Launched exclusively online in 2007 with their signature pants, Bonobos has since expanded to offer a full menswear line. Bonobos at Nordstrom will be the first time the brand is available in-store and online outside Bonobos.com and the company’s New York City headquarters’ showroom store. Beginning in April, Nordstrom will carry the top two product lines of Bonobos: the best-selling Washed Chinos in core khaki colors and colorful spring options, and the Bonobos Weekday Warriors, a collection of non-iron cotton trousers. In addition, some seasonal pants and shorts will be offered at select stores and online. The brand will launch at twenty of Nordstrom’s full-line stores and within the Men’s Shop on Nordstrom.com.
“Bonobos makes great-fitting product and customers are clearly responding to their energetic sense of style. They are a pioneer in leveraging the Internet to build great relationships with their customers, a common focus of both organizations,” says Jamie Nordstrom, President of Nordstrom Direct. “Our investment with Bonobos will enable Nordstrom to participate in the young company’s phenomenal growth, and we look forward to what we can learn from each other as we build the business together.”
Last March, Nordstrom acquired HauteLook, an online retailer that offers flash sales on top fashion and lifestyle brands. The deal was the first transaction of its kind with a leading fashion specialty retail chain acquiring an online private sale company. With the announcement of Nordstrom’s investment in Bonobos, one of the first vertically-integrated web-driven clothing brands, Nordstrom’s commitment to innovation at the intersection of retail and technology continues.
In addition to Nordstrom.com, Nordstrom full-line locations carrying Bonobos include:
The Grove (Los Angeles, CA)
Fashion Island (Newport Beach, CA)
Stanford Shopping Center (Palo Alto, CA)
Fashion Valley (San Diego, CA)
San Francisco Centre (San Francisco, CA)
Cherry Creek Shopping Center (Denver, CO)
The Gardens Mall (Palm Beach Gardens, FL)
Phipps Plaza (Atlanta, GA)
Michigan Avenue (Chicago, IL)
Oakbrook Center (Oakbrook, IL)
Natick Collection (Natick, MA)
Montgomery Mall (Bethesda, MD)
Mall of America (Bloomington, MN)
Garden State Plaza (Paramus, NJ)
Short Hills (Short Hills, NJ)
Washington Square (Tigard, OR)
The Mall at Green Hills (Nashville, TN)
The Shops at La Cantera (San Antonio, TX)
Tysons Corner Center (McLean, VA)
Downtown Seattle (Seattle, WA
ABOUT BONOBOS: Bonobos is a clothing company focused on delivering great fit, high energy, and superb customer experience. Launched in 2007 on the internet with its signature line of better-fitting men's pants, Bonobos is now the largest apparel brand ever built on the web in the US. In 2011 Bonobos extended offline, launching the Bonobos Guides program to bring personalized, one-to-one service to those wanting to experience the brand in-person. In 2012, Bonobos expands its distribution to a partnership with Nordstrom, bringing Bonobos apparel into twenty doors nationwide and to Nordstrom.com. Across channels, Bonobos is focused on delivering a well-targeted brand promise: world-class fit, an innovative shopping experience and an energetic brand spirit. Bonobos was named “One of America’s Hottest Brands” by Advertising Age, “Best Men’s Pants” by New York Magazine, one of Inc. Magazine’s “20 Awesome Facebook Pages” and was awarded Crain’s “Best Places to Work in New York City”. Visit http://www.bonobos.com/.
Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 227 stores in 31 states, including 117 full-line stores, 106 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.