Consumer
Walmart Offloads Bonobos Unit in $235 Million Fashion Flop
- Retailer purchased the business for $310 million in 2017
- WHP, Express will acquire menswear brand for $75 million
This article is for subscribers only.
Walmart Inc. agreed to sell its Bonobos menswear line to WHP Global and Express Inc. for $75 million — $235 million less than what the retail giant paid for the business in 2017.
WHP, owner of such brands as Anne Klein and Joseph Abboud, will pay $50 million for the Bonobos brand, according to a statement Thursday. Express, which is partly owned by WHP, will acquire the Bonobos operating assets and related liabilities for $25 million.