Walmart will sell online apparel brand Eloquii to FullBeauty Brands for an undisclosed sum.
The sale comes as Walmart continues to shed its D2C portfolio.
Walmart reportedly acquired Eloquii for $100M in 2018.
- The sale of Eloquii comes after Walmart's divestiture of D2C brands Bonobos and Moosejaw.
- Walmart appears to be reversing the expansion of its e-commerce portfolio that began with the $3B purchase of Jet.com in 2016.
- Walmart will continue to operate its own brand of inclusive-sized apparel following its sale of Eloquii.
- Walmart CEO Doug McMillon said earlier this month that the company is pivoting away from "scaling" its e-commerce operations and focusing instead on "execution and operating margin improvement."
