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  • Bonobos

    Posted on September 10th, 2009 admin 37 comments

     BonoboBonobo is the name of a pigmy chimpanzee which is the closest extant relative to humans. [wiki] Add an “s +.com”, and you have Bonobos.com, a new startup located in Manhattan that’s attempting to accomplish with men’s pants what Zappos did with shoes. Tuesday in ENTR200 class I mentioned repositioning of ping pong; today Bonobos is repositioning the purchase of pants by men. Only two years old, Bonobos raked up $1.6 million in its first year, 2008, and is on track for their second year to be in the $5-6 million range supported by $3 million in Venture funding. Read their full story on Vator here, and view an interesting interview with Bambi and Bonobos’ CEO/founder Andy Dunn below. Note the loving/caring manner Andy uses to fold the demo trousers. Hank

     

    37 responses to “Bonobos”

    1. The internet is the future of business, The wondrous thing about it is that customers can select what ever they want and be able to see all of there options at once. In a store, especially a clothing store there are many options all over the store. Additionally customers can shop whenever they want and how ever many they want. In s store there is limited supply. overall anything that can be on the internet should be.

    2. Zappos has expanded to sell a number of different items besides shoes. I don’t see this business being able to compete with Zappos’s quick quick shipping and free return shipping.

    3. This idea is definitely a good one, even though I would have to say I wouldnt use the website. I wouldn’t want to go through the process of mailing back pants that did not fit me.

    4. It seems that the more trust people put in their costumers the more trust or profit they get back. Eather people are taking advantage of the refund policy or are truly satisfied with the product.

    5. This company solve a problem for men who don’t really like going to shopping mall. They can buy jeans that can fit them online now through this company.

    6. Cool idea!!! “The power is on your hands” I like that statement.
      Actually I like the pants they sell a lot but they are quite expensive although if you think about it they are not as expensive as they seem because they are pretty exclusive plus I bet they look fantastic on everybody.
      As funny as it is, I think ‘Bonobos’ is taking advantage of italians and I’ll explain: We all probably know that Italians are the ‘chicest’ people on earth because they look cool and fancy when they dress. Italian style pants are just as he described his pants ‘ fitted, not too baggy not way over fitted’ and I think that’s why they are so successful, because americans want that fancy look italians have!! Baggy jeans are not cool anymore I think…

    7. I think it’s a good idea. A place where men can go for all their pants needs. Personally I don’t like buying clothes online because I’m always worried it doesn’t fit right or something….there’s always that variance. Despite the wide selection here, I’d rather go to a store still.

    8. Yet another way for us Americans to become even more lazy. What’s next, students have internet-fed classes?

    9. This makes shopping for pants a lot easier. I have trouble finding pants everywhere i go because of my height, but if i bought a pair and they fit me right i would probably continue to purchase online with Bonobos. Also this company would start a strong following with the donation they give to save the endangered animals with every pair a person buys…smart marketing idea.

    10. My problem with pants is every brand has differances in sizes you would think an inch was an inch.Anyway I would think fast shipping and good service was part of their business plan or investers wouldnt have thought they could compeat either.

    11. Online purchasing is a fast growing industry that seems to be very beneficial to many computer competent people. Bonobos seems to be a great company that is confident and passionate in what they are doing. It seems that some may worry, however, about their pricing and such with the online method. They seem to be somewhat expensive although he said they will work on it. Andy did an excellent job of conveying the company and it’s benefits. As Hank said, the caring fold of the pants gives the impression that their products are extremely valuable and gives the company a worthy impression…nice job on his part.

    12. Online shopping is great, but dangerous as well. I caught myself buying online items because of the ease and the free shipping! It seems like a common problem for men is shopping, so now they can do it from the convenience of their own home. Hopefully Bonobos includes free shipping because that is usually the deal breaker for me and I’m sure many more out there.

    13. Caroline Stephenson

      Being in fashion design makes this article particularly interesting to me. I have always wondered about online shopping and whether it makes people less comfortable to not be able to try things on. Bonobos has solved this problem with its return and free-shipping policy. I also LOVE the innovative design! It’s great that he was able to find this gap in the market (great pants for affordable prices), and utilize it!

    14. This is a really interesting business venture. Like Jesus said, Bonobos seems to banking on the idea of an exclusive and chic look as well as nice-fitting clothes. While I personally wouldn’t shell out 100 bucks for a pair of these pants, there is certainly a market for fashionable and exclusive clothing. Their pants look great and the design is innovative, but the price is too high for my taste. However, I’m probably not in their target market. The name is pretty awesome too.

    15. I can see where they’re coming from with a zappos-esque idea but imho, it won’t do any where near as well. First off shoes are completely different than pants, they’re 400% more stylized in modern day than any pair of pants: multiple colors, patterns, and new styles are released, most guys I know wear straight jeans (w/ or w/out holes), khakis or gym shorts every day. I would rather go to a store like Express or Old Navy for pants than I would order them offline.

    16. Interesting stratedgy. Using an animal as a company icon.BTW zappos is the best: Tony Shae is a genius.

    17. was he really thinking “wouldn’t it be nice if i named my company after a chimpanzee”?

    18. This is an awesome idea, and odviosly a lot of consumers agree. I have seen my dad’s belts and noticed the curve in them before but never even thought that anything could be done about it. I really think this business will do well because a lot of guys will opt for the comfort of these pants over the price.

    19. This a very smart idea. Men are known to detest shopping and Bonobos makes shopping easier in the comfort of their own home. Its also great to know, as a consumer, that the pants you are buying will be the perfect fit and if they aren’t up to expectations, that they can be returned without hassle. Awesome idea!

    20. As there are many online companies that sell all kinds of clothes including pants, it seems that a start-up pants selling online company will have no chance to occupay the marketplace. But the Bonobos pant indeed succeed, not only because they change the ordinary way that pants used to be, and the need of men, but they focus on a small target market compared to other big companies. So it would be better for start-ups if they focus on a small market first.

    21. Sree Harsha Uddandam

      This seems to be pretty interesting for me as well.
      I can probably shop online n get a better fit.
      I have seen some skills in Andy , the CEO of the company.
      He is much more concentrated on his product than his other stuff.
      He is much concerned n also excited about his new models.
      It is also quite interesting to know about their new products.

    22. Internet sales are going to kill stores. FIrst, many places don’t haves taxes for online stores and there is less overhead for the company, thus making products less expensive. It will be interesting to see how the government regulates online sales in order to give stores a change to stay competitive.

    23. I do see the pluses in the online ordering, but there are hassles that come with online ordering. I’d rather be able to go the store and the cut the frustration and go to a physical store. Yet, the whole company concept is a very interesting idea for easier online shopping for men.

    24. Shopping seems painful enough for men as it is. It is nice to see a web site that is offering a reasonably good product like dress pants which some men cringe at the idea of purchasing. Although they do need to work on price I think their products must easily sell themselves considering there company is still continuing to grow. A good product will always sell and maybe men are willing to fork over a little extra cash if it saves them a trip to the mall.

    25. Andy has a good point when he says “if you put the gun in their hand, they won’t shoot you.” Implementing a no-holds-barred return policy was quite risky of him. It’s good to see people aren’t taking advantage of the policy and that he is succeeding.

    26. Allison Weilbaker

      Contrary to what other students said, I don’t think that these pants are overpriced. Of course, jeans and other pants are not over a hundred dollars but dressier trousers are in the same hundred dollar range. I know Dockers and Ralph Lauren “country club” looks all go for that price and are not as customized. If they came in women’s I would definitely try a pair. A good pair of pants are hard to come by.

    27. wow sounds like a good product and even better company. the fact that they have such an excellent return policy will set them apart from all their competition. I look forward to see what this company has to offer in the future.

    28. I am actually a little clue less, I don’t understand how can mailing back pants earn millions of $. But i guess whatever earns has to be a good idea. The name is pretty cool though.

    29. I am 100% on board with this company!

      I agree with Allison. Men and espically teenage and young men spend between $200 and $500 on a pair of True Religion Pants. However True Religions aren’t comfortable for everyone. Why is it that pants like those are not overpriced but these are?

      And to top it off online shopping is becoming a huge market. Women and some men online shop all the time. Some people enjoy online shopping so much is has become an addiction. Bonobos has taken the gap in the economy for online pants shopping for men and filled it. Also, the passion of Andy Dunn will make the company go far! You know.. “the number one characterisitc shared by successful entrepreneurs is a passion for the business”.

    30. Andy Dunn discovered a problem and came up with a solution. Actually he found two problems. The first being that men have trouble finding a pant that fits them well. They either cost too much or spend too much time looking. Second that men don’t like to shop in stores. I immediately thought of my dad, and how much he HATES shopping. He would go with me to the mall, but hated every minute of it. I personally don’t get it. I guess it’s a guy thing. I thought it was very risky for the company to allow customers to return the pants no matter what they did to them. I thought it was an interesting idea though because customer satisfaction is a big component of any successful business. I liked how Andy said “if you give them the gun they won’t shoot.” By the company trusting their customers with the return policy they’re creating some what of a bond. I think that this was a good idea on their part. With free shipping both ways and their extremely flexible return policy, men can buy different sizes and return the ones that don’t fit. I thought of my own troubles when watching the video, because I too struggle to find a pair of jeans that fits me right. Before I saw this video I actually came up with a company some what like “Bonobos.” It allows customers to be measured for a perfect fit, and design their own clothes and accessories.

    31. This is a very convenient option for those who are always on the go with busy schedules and don’t really have all that time to go and shop at a store. But, for people who like to go shopping also as a means of getting a kind of change from their mundane, it’s kind of an off stream thing.

    32. Online shopping is becoming more and more prominant in the world today. Bonobos is interesting because it is tailored specifically for men, while most online shopping is geared for women. I think this is an interesting idea but the company may need to review its return policy and high prices in the future.

    33. In my opinion, online shopping is very familiar to people nowadays and is not a creative idea any more. There are many shops online and sometimes it’s hard to make your shop attractive. Bonobos, however, it’s a great and awesome idea which definitely can attract people to visit and shop. Even as a girl, I am interested at this as well.

    34. Regardless of the return policy, I would be a little skeptical to buy from here because you cannot try on the pants that are so “perfectly fitting”.

    35. It’s great to see all these comments! At Bonobos we are excited to get the word out via the web, so we’re glad that this video has resonated with all of you.

      We DO offer free shipping and returns, so trying out our pants is really risk free. And anybody from these comments is more than welcome to email us at ninjas@bonobos.com and we’ll issue a discount on your order–we want everyone to be as excited about pants as we are!

      Cheers–
      Marshall
      Bonobos.com

    36. Mr.Dunn seems really smart in what he is doing in his business. He just needs to maintain his customers since he already has experience selling 5,6 million pants. I personally thought selling clothes was the hardest enterperneural activity. However, he should be careful where he set up his company’s location in terms of manufacturing. He mentioned he just made enough to keep up business when set up at New York. I think the reason he is selling pants well is because the quality looks really good, as well good customer service. Many people have tendency to buy clothes that fits their body more than finding the brands or other clothes that doesn’t fit them.

    37. I wonder if I can take this buisiness idea and sell Mens shirts! Within a year I will be millionare, and not having to spend a cent on upkeeping a store. The internet has really opened doors for business ideas and made them extremely affordable. Now I just have to find a cool animal to name my company after :)

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