(Reuters) - Wal-Mart Stores Inc (>> Wal-Mart Stores Inc) is in advanced discussions to buy online men’s fashion retailer Bonobos Inc, Recode reported on Friday, citing sources.

Wal-Mart and Bonobos have agreed on a price and the deal is in final due diligence, Recode said. Nordstrom (>> Nordstrom, Inc.) is an investor in Bonobos.

The website said that the price of the deal could not be learned, but a retail business would likely fetch one to two times revenue. Bonobos has $100 million to $150 million in revenue and was valued at $300 million in 2014, the article said.(http://bit.ly/2nNA6nO)

The world's biggest retailer has been working aggressively to close the gap with rival Amazon.com Inc (>> Amazon.com, Inc.) under the leadership of Chief Executive Doug McMillon and new e-commerce chief Marc Lore.

The deal, if announced, would become the fourth e-commerce acquisition by the retailer in less than a year.

Wal-Mart declined to comment while, Bonobos did not respond to the requests for comment.

Lore has overseen the acquisition of three other online retailers, shuffled management and made two-day shipping free on all online orders over $35, without any membership fees to compete with Amazon's popular Prime shipping program.

(Reporting by Divya Grover in Bengaluru; Editing by Alden Bentley and Cynthia Osterman)

Stocks treated in this article : Wal-Mart Stores Inc, Nordstrom, Inc., Amazon.com, Inc.