Bonobos Tag

Bonobos has found a recent home after nearly six years under the Walmart Inc. umbrella.  Brand management firm WHP Global and Express Inc. agreed to purchase the direct-to-consumer men’s pioneer for a combined $75 million — a steep discount to the $310 million Walmart shelled out for the brand in 2017.  WHP is paying $50 million for the brand while Expr, the corporate that runs Express, will pick up the operating assets and liabilities for $25 million.  The deal was signed on Thursday is predicted to shut within the second quarter, when Expr and WHP plan to enter into an exclusive long-term license agreement that could have Expr running the business within the U.S.  That is the primary joint acquisition by the 2 firms,...