Clothes sometimes sell for a steep discount at Bonobos. Thursday night, the company itself sold for a loss.
Walmart has announced that it’s offloading the trendy menswear brand, selling it to management firm WHP Global and retailer Express Inc. for $75 million. That’s a steep loss for Walmart, which acquired the brand in 2017 for $310 million as part of a failed attempt to diversify its online presence under previous management WHP Global is little-known company that owns some recognizable brands, including the Toys “R” Us, Anne Klein and Joe Jeans. Last year, WHP took a 60% stake in Express Inc.
CEO in a statement. Express\n \n shares opened 20% higher Friday. The deal is expected to close later this year. For Walmart, dumping Bonobos means that its tightening its focus on its core retail business in anticipation of a rocky economic environment ahead.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
WHP and Express Buying Bonobos From Walmart for $75MBonobos has found a new home after nearly six years under the Walmart Inc. umbrella.
Weiterlesen »
Walmart Selling Bonobos for $75 Million to Express, WHPWalmart is selling Bonobos to Express and WHP for $75 million, a fraction of what it paid for the menswear brand in 2017
Weiterlesen »
Walmart sells Bonobos to WHP Global and Express in $75 million dealWalmart has agreed to sell Bonobos to WHP Global and Express for $75 million after purchasing the DTC brand for $310 million in 2017.
Weiterlesen »
Express shares soar after deal to buy Bonobos from Walmart at a big discountShares of apparel retailer Express Inc. soared more than 20% in extended trading Thursday after announcing a deal to buy menswear brand Bonobos from Walmart...
Weiterlesen »
Express shares soar 23% after deal to buy Bonobos from Walmart at a big discountShares of apparel retailer Express Inc. soared more than 20% in extended trading Thursday after announcing a deal to buy menswear brand Bonobos from Walmart...
Weiterlesen »
Walmart to sell menswear brand Bonobos to Express, WHP Global for $75 millionWalmart Inc is selling menswear brand Bonobos to Express Inc and WHP Global for $75 million, a far lower price than what it paid nearly six years ago.
Weiterlesen »