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Big Law

Walmart Sells Menswear Brand Bonobos to WHP Global, Express in $75 Million Deal

Walmart has sold menswear brand Bonobos to brand management firm WHP Global and Express
in a $75 million deal announced Thursday.

It’s the second time this year Walmart has offloaded a direct to consumer brand that it bought under former e-commerce President Marc Lore after it sold Moosejaw to Dick’s Sporting Goods
in February.

Walmart originally purchased Bonobos in 2017 for $310 million while it was attempting to grow its online presence and compete with Amazon under Lore, who founded Jet.com. It was just one of the DTC brands the mega-retailer picked up under his tenure and later sold, including Bare Necessities, Shoes.com and ModCloth. Lore left Walmart in 2021.

Read the source article at cnbc.com

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