Andy Dunn, An Original
Wal-Mart’s just-announced acquisition of Bonobos is the latest in Marc Lore’s quest to assemble a collection of progressive brands that are transforming the shopping experience.
Bonobos, the first digitally-native brand, has been a pioneering force for a decade under the leadership of Andy Dunn. Like Marc, Andy is a true original. The fact that they’re joining forces is one of the more exciting developments in retail and commerce.
I met Andy back in 2010 when very few were excited about apparel e-commerce, and almost no one had thought a men’s pants brand made for an exciting venture-backed business. What made Andy and Bonobos stand out to Accel as an original? It was his willingness to consider the unconventional or controversial approach, and an inspired dedication and tenacity in his vision for a digital brand. Andy initially had this idea of building a digitally-native, vertically-integrated brand, delivered entirely through e-commerce, where the Bonobos brand would own the direct-to-consumer experience from end to end. It meant making great clothes that people loved and advocated for, coupled with the efficiency of online marketing and sales. Eventually, the online direct-to-consumer strategy took an interesting turn into offline when Bonobos created a new physical retail concept, the Guideshop, an in-person, personalized, consultative experience where people could select clothes, try them, then complete the purchase online.
The idea of Bonobos hadn’t been tried before. It seemed a bit crazy. But it was also completely novel and made sense. Seven years since our first meeting and investment, this hybrid approach is the gold standard that other emerging brands emulate. Andy has written expansively on it here, and it’s definitely worth checking out.
Now Andy brings this novel thinking to Wal-Mart where he gets to manage and develop a portfolio of promising digital brands, and create new ones.
I couldn’t be happier for Andy and the Bonobos team. It’s an exciting next step and a new chapter as the second decade of Bonobos begins.
