Walmart Inc. of Bentonville has agreed to sell plus-sized women’s fashion brand Eloquii Inc. to online retailer FullBeauty Brands Operations LLC.
Financial terms of the deal were not disclosed.
Walmart acquired Eloquii in 2018 for $100 million, one of several brands it purchased around that time to build up its e-commerce presence to compete with Amazon.
Walmart has sold three of those brands, including Eloquii, this year. It agreed in February to sell outdoor retailer Moosejaw, which it acquired for $50 million, to Dick’s Sporting Goods for an undisclosed price. Last month, Walmart agreed to sell menswear brand Bonobos, which it purchased for $310 million, to fashion retailer Express Inc. in a $75 million deal.
Eloquii’s new owner plans to make it the anchor tenant in its digital mall.
“This strategic acquisition complements our brands perfectly and allows us to leverage our scale and platform to support ELOQUII and our shared mission, and thereby accelerate our growth with this important demographic,” Jim Fogarty, CEO of FullBeauty brands, said in a news release.
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