Walmart Sells Menswear Brand Bonobos

Walmart is selling direct-to-consumer menswear brand Bonobos to EXPR, which owns mall retailer Express, and holding company WHP Global for $75 million. WHP Global will acquire Bonobos outright, with Express taking control of the menswear brand’s operating assets.

The deal, which is expected to close before the end of this quarter, is a knockdown from the $310 million valuation Bonobos secured when it sold to Walmart back in 2017. Rising…