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Walmart Inc. offloaded its Bonobos menswear fashion brand two weeks ago, and now it is selling another clothing line. The retailer is getting rid of its Eloquii online apparel brand, and online retail company FullBeauty Brands Operations LLC, was named as the buyer.
This is the third online clothing brand that Walmart has sold this year. Earlier this month, Walmart sold its Bonobos brand to WHP Global and Express, and before this, it unloaded Moosejaw to Dick’s Sporting Goods. It was noted that the series of sales are not what the company’s former e-commerce head, Marc Lore, had planned out as a strategy to boost sales. Rather, the opposite happened, as he originally wanted these brands to be promoted more and become big sources of profits for Walmart.
In any case, CNBC reported that it was in 2018 when Walmart purchased Eloquii for about $100 million. At that time, the company bought it to reach the goal of further building its online business by adding more brands and products. It was also expected that the acquisitions would also bring in talent that may help the company speed up its digital business strategy.
“Eloquii joined Walmart’s portfolio of digitally native vertical brands to expand our Women’s assortment in sizes 14+ and offer a unique and differentiated product in an underserved but growing segment,” Jaeme Laczkowski, Walmart’s spokeswoman, said in a statement. “Since acquiring Eloquii, Walmart.com has grown to hundreds of millions of items, and we have decided it is the right time to sell Eloquii.”
FullBeauty Brands will retain Julie Carnevale as Eloquii’s co-founder and chief merchant. Finally, as it joins the FullBeauty Brands line, it will be added to the company’s portfolio of plus-size apparel, swimwear, and shoe brands.
