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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 will pay $50 million for the Bonobos brand. Express, which is partly owned by WHP, will acquire the Bonobos operating assets and related liabilities for $25 million.
The online-focused menswear line was worth $310 million to Walmart in 2017.
Walmart is selling another DTC brand as Bonobos goes to Express and WHP Global for $75 million, a $235 million discount to its 2017 purchase.
The company, founded in 2007, first sold to Walmart for $310 million in 2017 under the leadership of founding CEO Andy Dunn.