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Lore also bought online furniture retailer Hayneedle while was still independent. The largest of the Walmart deals under Lore was $70 million, but sources say Bonobos will go for more than that. The company has between $100 million and $150 million in annual revenue and is in better financial shape than ModCloth, which sold for less than 1x revenue. For a retail business like this, it wouldn’t be unusual to fetch between 1x and 2x revenue. Bonobos was valued at $300 million, according to PitchBook, when it raised $55 million in 2014 . Bonobos was founded in 2007 by CEO Andy Dunn and Brian Spaly as an e-commerce shop selling dress pants designed to fit athletic men. Since then, the company has expanded into dress shirts, suits and outerwear, and started to sell through Nordstrom, which is an investor, in addition to its own website. Dress shirts start at around $98 and suits at $550. Over the last few years, Bonobos has also opened more than 30 brick-and-mortar showrooms, called Guideshops, where customers can get fitted and place orders to be delivered to their home. It has raised more than $125 million from investors like Forerunner Ventures, Lightspeed and Mousse Partners in part to fuel this expansion, and had been in discussions over the last few months to raise more.

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