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.
Missing Prime Day this July, and can’t wait until October? Never fear. Global buy now and pay later platform Klarna has teamed up with media partner Cosmopolitan to create a new shopping event called Hauliday over the weekend of Aug. 8-9, with deals aplenty aimed at millennial and Gen Z shoppers.
Brand investment platform Go Global has closed its acquisition of women’s retro fashion brand Modcloth from Walmart, announced last fall, with financing from Tiger Capital Group. Go Global managing director Jeff Streader talks to Multichannel Merchant about Modcloth’s distinctiveness and the importance of listening to customers.
As was expected since ecommerce losses are mounting, Walmart is looking to shed one or more of the several digitally native vertically integrated brands it picked up on a shopping spree that began after the game-changing Jet.com acquisition in 2016, with ModCloth being first up on the block.
Marc Lore, Walmart’s CEO of U.S. Ecommerce, pushed back on critics at ShopTalk by saying the company’s Q4 ecommerce sales falloff was planned, that Walmart doesn’t give quarterly online sales guidance and that the company was taking the opportunity to “create a healthier business.”
As its Jet.com acquisition continues to pay out, Walmart is seeing hyper growth in ecommerce, with U.S. online sales up 63% in the first quarter. See what initiatives Walmart has accomplished to further its ecommerce success.