Walmart is selling its direct-to-consumer menswear brand, Bonobos, to brand management firm WHP Global and apparel retailer Express Inc. for a combined $75m, six years after acquiring it for $310m.

WHP Global is paying $50m for the Bonobos brand, while Express will acquire the operating assets and assume the related liabilities of its business for $25m.

Analysts suggest that Bonobos may have a better chance of thriving under its new owners, given Walmart's lack of development of the brand since acquiring it in 2017.

For Express, the acquisition provides a chance to diversify from its core, middle-market business, and for WHP Global, the deal enables the company to expand its portfolio.

The deal is expected to close in Express' second quarter, subject to customary closing conditions.