Walmart Sells Clothing Brand Eloquii in Its Third Divestiture of a Direct-to-Consumer Brand This Year

Walmart is selling online apparel brand Eloquii to FullBeauty Brands, marking the retailer’s third divestiture of a direct-to-consumer brand this year.

The big-box retailer sold Bonobos to WHP Global and Express earlier this month and offloaded Moosejaw to Dick’s Sporting Goods in February. The sales are a reversal of a 2017-18 strategy led by Marc Lore, Walmart’s former head of e-commerce.

The retailer bought Eloquii in 2018 for a reported $100 million, one of numerous digital apparel brands with niche and loyal consumer bases. The goal was to build out the retailer’s online assortment with higher-margin apparel and home merchandise. The acquisitions would also bring in talent that could help Walmart accelerate its digital strategy.

Read the source article at cnbc.com