US internet

brand

Negotiations with investors will take about a total of about $one hundred million in the new round of financing, and the overall valuation of the company will be around us $500 million.

(above: Bonobos experience store in New York)

The source said last Friday that Bonobos is prepared to use the newly raised funds to expand its retail network and will enter the traditional physical retail sector in search of further growth.

Bonobos is currently profitable, with annual sales of about $150 million, according to people familiar with the matter.

They will cooperate with Citigroup to launch the current round of financing.

Citigroup and Bonobos declined to comment on the news.

Founded in 2007, Bonobos is headquartered in New York, USA. Two founders graduated from Stanford University business school.

Bonobos is famous for his "men's twill trousers".

At the beginning of its founding, Bonobos only sold online.

Today, Bonobos's products have increased dramatically, not only for men's khaki trousers, but also for golf related garments and coats.

And accessories.

In 2013, it released its first website on women's clothing, Ayr.com.

At the end of last year, Bonobos announced the split of Ayr.com's business.

Bonobos is one of the pioneers to enter the traditional retail industry in the Internet fashion brand.

Although some retail businesses have been launched as early as 2012, it is only in the past two years that we have begun to focus on the promotion of physical stores.

Bonobos said that through these stores, consumers can feel the goods in person.

Bonobos's physical store is called "Guideshop". There is no stock in the store. Customers can try it on at the experience store first and then buy it online.

Famous glasses company Warby Parker and clothing rental website Rent the Runway also launched a similar retail concept.

Bonobos currently has 28 experiential shops, located in Atlanta, Texas, New York and California.

In addition, it has retail outlets in department stores such as Nordstrom and Belk.

In addition to Bonobos, the Internet giant Amazon has begun developing its own stores, including bookstores and food retailers, hoping to gain a larger share in the corresponding market.

Many traditional retail companies have begun buying online platforms to cover more consumers.

Earlier this year, Unilever Plc (Unilever) bought the Internet male protective brand Dollar Shave Club at the price of 10 billion, while WAL-MART bought Jet.com of the Internet business with $3 billion.

So far, Bonobos has raised about $127 million.