Destination XL Group and FullBeauty to Create $1.2B Merger
Destination XL Group and FullBeauty have agreed to combine in what the companies described as a “merger of equals,” bringing together a publicly listed brick-and-mortar retailer with a large private online platform focused on extended sizes. As part of the deal, FullBeauty will be folded into a newly created subsidiary of Destination XL, which will remain the listed entity under the ticker DXLG. Shareholders of FullBeauty will own 55 percent of the enlarged group, with existing Destination XL investors holding the remaining 45 percent.
FullBeauty operates a portfolio of plus-size and inclusive apparel brands across men’s and womenswear, including KingSize, Catherines, Eloquii, Roaman’s, and Dia, alongside its flagship FullBeauty platform. Destination XL is the parent of the DXL Big + Tall and Casual Male XL store chains.
Total Retail's Take: By combining their businesses, Destination XL Group and FullBeauty will strengthen their position as leading players in the plus-size apparel category. Based on results for the 12 months leading up to October 2025, the combined entity would generate about $1.2 billion in annual revenue. Jim Fogarty, the current CEO of FullBeauty, will assume that same role for the combined organization. Harvey Kanter, current president and CEO of Destination XL, is expected to leave once the transaction has completed.
For Destination XL Group, the merger expands its core “Big + Tall" men's business into the broader inclusive-sizing universe, particularly women consumers. Furthermore, DXL Group figures to benefit from FullBeauty's robust e-commerce business, helping the former to lean into online/customer data-driven growth while leveraging its store footprint as a differentiator.
As for FullBeauty, it conversely acquires a national store footprint in the merger. In addition, FullBeauty can accelerate cross-selling opportunities across complementary demographics to reinforce its position as a lifestyle retailer that is able to serve both women and men.
Lastly, the merger figures to create economies of scale (e.g., sourcing, supply chain, marketing) for DXL Group and FullBeauty, leading to cost savings, increased sales from new customer acquisition as well as higher customer lifetime value, and a stronger combined organization than they were as separate companies.
Joe Keenan is the editor-in-chief of Total Retail. Joe has nearly 20 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.
