Walmart continues to "shed its baggage" and sells its plus-size fashion brand Eloquii

Walmart is selling plus-size fashion brand Eloquii, less than two weeks after it agreed to sell men's clothing brand Bonobos, according to foreign media reports. The retail giant is trying to improve profit margins by narrowing its business focus and establishing alternative revenue sources.

The buyer, FullBeauty Brands, said in a statement on Friday that it was acquiring Eloquii, but did not disclose the size of the deal.

Walmart acquired Eloquii for a reported $100 million in 2018, hoping to attract younger shoppers through a portfolio of online brands and better compete with e-commerce giant Amazon.

Last week, the company announced it was selling Bonobos to Express and WHP Global for $75 million, significantly less than the $310 million it paid in 2017.

Walmart also sold outdoor lifestyle brand Moosejaw to Dick's Sporting Goods in February for an undisclosed amount. Walmart acquired Moosejaw for $51 million in 2017. Previously, the retail giant also sold women's clothing brand ModCloth.

A Walmart spokesperson said Eloquii's arrival expands Walmart's assortment of women's clothing sizes 14 and up and adds "unique and differentiated products in an underserved but growing segment."

“However, since acquiring Eloquii, Walmart.com now has hundreds of millions of items and we believe now is the right time to sell Eloquii,” she added.

Walmart has been stepping up its focus on businesses including advertising and express delivery to diversify its revenue sources and improve profit margins as inflationary pressures on consumer spending weigh on the retailer.

Editor ✎ Nicole/

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