WHP Global and Express Buy Bonobos from Walmart for $75M
Bonobos is an upscale, e-commerce-driven apparel company headquartered in New York City that designs and sells menswear, including men's suits, trousers, denim, shirts, shorts, swimwear, outerwear, and accessories.
Well, while the shine is off DTC-focused brands, there are always new players looking for opportunities. Walmart has sold off a number of its direct to consumer brands recently, and recall Walmart paid $310 million in cash for the brand in 2017. Due to its licensing roots, WHP Global will own the intellectual property, while Express will operate the eCommerce and stores.
As you may know, I’m an advisor to WHP+ which is the digital arm of WHP Global.