Bonobos really struggled to raise their D round... and I really mean struggle. They managed to find "dumb" money from a Mexican fund, as all well known funds had passed on the investment. I'm not saying Bonobos is a bad company, but when you run out of growth, and are desperate for cash, accessing capital is really hard...
Having raised $128m, and finding yourself in an extremely competitive sector with players with superb operations (Inditex, H&M), and well known players gone bust (American Apparel), I believe Bonobos is having real trouble in justifying a startup/tech-like valuation. If they IPO, or anyone buys them, Bonobos’ investors should expected a genuine market valuation based on fundamentals.