"Guys hate shopping," said Brian Spaly, the chief executive of Trunk Club, a shopping website for men, "but love to look good." As retailers have come up with new ways to target men, Nordstrom has been riding the wave. It plans to announce on Thursday that it's agreed to purchase Trunk Club, a five-year old website that sells about 100 brands of men's apparel, for an undisclosed amount. It's the latest sign that men aren't the only ones taking their sartorial habits seriously.
"The risk not taken is more dangerous than the risk taken," wrote Bonobos Co-Founder and CEO Andy Dunn, explaining his decision to turn down a secure job at a Silicon Valley venture capital firm and team up with Stanford business school classmate Brian Spaly to launch a new kind of men's apparel brand, focused on selling well-fitting pants online. After "creative differences," Spaly left the business in 2009, in what was a mutual though difficult split. But under Dunn's stewardship the company has not only survived, but flourished.
Bonobos, a brand that sells custom fit mens clothing online, has raised $16.4 million led by retail giant Nordstrom, with Accel Partners and Lightspeed Venture Partners participating. This brings the company’s total funding to nearly $40 million. In addition to the funding, Nordstrom will now sell Bonobos clothing at a number of its stores and on Nordstrom.com. The news was originally reported by the New York Times. Bonobos is best known for launching an online site to help men find better-fitting pants. The company debuted in 2007 with their signature pants, and eventually expanded to offer