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Which accounts for at least 2,000 to 5,000 products. Also, we are very proud that our best-seller is actually based in Africa, in Sénégal to be precise, so it is clearly possible! Taboure: We are not “sourcing” per se, the designers come by themselves through word of mouth and are free to create their shop. On our end, we review the products created to ensure their conformity and in addition the best control is through transparency: any visitor can ask and discuss with any designer! So if a designer fails to explain his product design or composition properly or receives a bad rating, we immediately take action. The other way around is more common, the more transparent and ethical seller gets enhanced visibility and promotion from our end. BE: What made you decide to start this platform? Taboure: Honestly, it first started as a simple project to help artisans in Africa. I grew up in Mali, and there, like most countries in Africa, craftsmanship is dependent on tourism. When tourism stopped and people close to us started sharing the despair of the artisans, we wanted to act. Seeing the success of models such as Etsy, we knew the cultural wealth and talent inspired by Africa would develop around the world.
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An In-depth Look At Down-to-earth Plans
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. But it had been challenging for Bonobos to find new investment terms that made sense for all parties because it had already raised a lot of money for a retail company of its size. On the surface, the Walmart and Bonobos brands make little sense together.
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