Walmart Offloads Bonobos Unit in $235 Million Fashion Flop (2)

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, owner of such brands as Anne Klein and Joseph Abboud, will pay $50 million for the Bonobos brand, according to a statement Thursday. Express, which is partly owned by WHP, will acquire the Bonobos operating assets and related liabilities for $25 million.

The deal adds to a list of fashion flops for Walmart, which has a record of acquiring apparel businesses only to offload or shutter ...