Walmart Sells Bonobos for Roughly 75% Discount Despite Growth Efforts

Walmart originally acquired menswear brand Bonobos for $310 million in 2017 to grow its online business.
Walmart sold Bonobos for $75 million to brand management firm WHP Global and Express, marking a 75% decrease from its original purchase price.
WHP Global purchased the Bonobos brand for $50 million, while Express acquired the remaining assets and liabilities for $25 million.
Express will run Bonobos in exchange for royalty payments to WHP Global, the new owner of the brand.
The deal comes as Walmart aims to refine its online portfolio under new e-commerce leadership.