UPDATE: Nordstrom is expected to announce Thursday that it is buying five-year-old menswear e-retailer Trunk Club for an undisclosed price, though sources say the price tag is $350 million.
The move is an indication of the surge in men’s apparel retail. Morningstar analyst Paul Swinand told the New York Times that “the men’s business is looking good.”
Trunk Club CEO Brian Spaly says the site has been based on the idea that “Guys hate shopping, but love to look good,” according to the New York Times. He says that much of Trunk Club’s clientele are men who aim to dress well and can spend money, but may not have the know-how.
Trunk Club CEO Brian Splay’s notion that men hate shopping recalls a similar sentiment by Bonobos founder Andy Dunn, who once predicted that all men’s apparel would be only sold online because men hate shopping. That may be so, but Bonobos now has a brick-and-mortar presence to complement its e-retail efforts.
No word on whether Truck Club will remain an e-retailer or expand into Nordstrom’s physical stores. In any case, the move is both an indication of the surge in men’s apparel retail and of Nordstrom’s efforts to be a different kind of department store.