Less than two months after selling off Moosejaw Mountaineering to a more appropriate home at Dick’s Sporting Goods, another of Walmart’s digital-first apparel brands is being sold. This time, menswear seller Bonobos is going to Express and WHP Global for $75 million, a $235 million discount to its $310 million acquisition in 2017.
Issues with sizing and color conventions have probably been an issue since the invention of clothes. And with so much shopping now driven online by the pandemic, combined with generally liberal return policies, apparel returns have exploded. New technology solutions and industry standards are both working to solve the problem.
Forever 21 has struck an $81 million deal to sell its assets to a group of mall owners and management operations, including Simon Property Group, Brookfield Properties and brand development/marketing venture Authentic Brands Group. It includes all of Forever 21’s assets and must be approved by a bankruptcy court judge.