Just over a week after deciding to sell menswear label Bonobos, Walmart Inc. is now selling plus-size fashion brand Eloquii Inc., highlighting an aim to increase margins by focusing more tightly and focusing on alternate revenue sources.
In its statement on Friday, the buyer, FullBeauty Brands, omitted mentioning the value of the transaction.
Walmart purchased Eloquii in 2018 for an estimated $100 million as part of its effort to better compete with Amazon.com Inc. and appeal to younger consumers through a variety of online brands.
The business said this week that it would sell Bonobos to Express Inc. and WHP Global for $75 million, a significant discount from the $310 million it spent for the brand in 2017. In recent years, it has also sold off the women's clothing brand ModCloth and the outdoor clothing outlet Moosejaw.
As inflationary pressures on consumer spending weigh on the store, Walmart has been focusing more on expanding its operations, including advertising and delivery, to diversify its revenue sources and increase profits.
Eloquii's acquisition will bring FullBeauty's portfolio of brands, including Woman Within and Roaman's, which sell clothing in sizes 12 and up, together. Eloquii is an online retailer of clothing that goes up to size 14.
(Source:www.investing.com)
In its statement on Friday, the buyer, FullBeauty Brands, omitted mentioning the value of the transaction.
Walmart purchased Eloquii in 2018 for an estimated $100 million as part of its effort to better compete with Amazon.com Inc. and appeal to younger consumers through a variety of online brands.
The business said this week that it would sell Bonobos to Express Inc. and WHP Global for $75 million, a significant discount from the $310 million it spent for the brand in 2017. In recent years, it has also sold off the women's clothing brand ModCloth and the outdoor clothing outlet Moosejaw.
As inflationary pressures on consumer spending weigh on the store, Walmart has been focusing more on expanding its operations, including advertising and delivery, to diversify its revenue sources and increase profits.
Eloquii's acquisition will bring FullBeauty's portfolio of brands, including Woman Within and Roaman's, which sell clothing in sizes 12 and up, together. Eloquii is an online retailer of clothing that goes up to size 14.
(Source:www.investing.com)
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