Bonobos Founder Andy Dunn Exiting Walmart In Early 2020

After two years at the world’s largest retailer, Bonobos founder Andy Dunn is leaving Walmart in early 2020, Reuters reported on Thursday (Dec. 12). 

Dunn announced his departure following Walmart’s acquisition of his online menswear brand in 2017. He joined Walmart as senior vice president of digital consumer brands when the retail giant acquired Bonobos and was previously CEO of the brand since its inception in 2007.

His departure was announced on LinkedIn with a post titled, “A Love Letter to Walmart.” He did not provide details on his future plans. 

“When I joined Walmart in the summer of 2017, my goal was to leave the company better than I found it,” Dunn said in the post. “What I am certain of is how much I gained from my time at Walmart.”

He added that he learned a lot “about retail transformation in the digital age at the world’s biggest company.”  

Walmart acquired Bonobos for $310 million in June 2017 and Dunn became part of the retailer’s efforts to take on Amazon and other eCommerce companies. Bonobos was known for its patterned men’s shirts and chinos and is just one of the digital companies that Walmart acquired in recent years to compete with Amazon.

“Andy will remain onboard through January and will work closely with Merchandising and brand leadership to ensure a smooth and successful transition,” a Walmart spokeswoman told Reuters.

Bonobos laid off staff on Oct. 7 in the light of continued losses by its parent company. It was estimated a few dozen employees were let go of the company’s 600 employees.

“These decisions are not taken lightly, but we believe they are necessary to set the brand and business up for long term success,” a Walmart spokeswoman said. The decision for the layoffs came from Bonobos, she said.

Walmart has a few eCommerce properties, like Jet.com, which it bought in 2016. In 2017, the retail giant bought ModCloth and Moosejaw, and outdoor retail company. In 2018, it bought Elloqui, a plus-size women’s fashion brand. Walmart has been re-evaluating its eCommerce properties and in October announced the sale of ModCloth.