The combined company, formed as a result of the merger between Destination XL and FullBeauty, will unite complementary brands, channels and capabilities to better serve plus size women and Big + Tall men as a larger, stronger and more flexible public company, positioned for long-term growth.
The two say that together, Destination XL and FullBeauty will be leaders in size-inclusive apparel, with one of the broadest and most diverse portfolios in the industry, spanning value to premium across all lifestyles and occasions. By leveraging complementary strengths across genres, products and channels, the combined company will be positioned to accelerate growth, improve operational efficiency and deliver a better customer experience through a comprehensive and innovative omnichannel strategy.
The companies generated combined net sales of approximately $1.2 billion over the trailing twelve months through October 2025. Assuming no pro forma adjustments, adjusted EBITDA (a non-GAAP measure) was approximately $45 million. Including $25 million in expected annual run-rate cost synergies, the combined company would have generated approximately $70 million of LTM adjusted EBITDA.
Upon completion of the all-stock transaction, FullBeauty and DXL shareholders will own 55% and 45% of the combined company, respectively.
Harvey Kanter, president and CEO of DXL, said: “Together with FullBeauty, we will be able to better serve our customers in the plus size and Big + Tall clothing market, providing them with more brands, more styles and more options, whether they shop in stores or online through our powerful omnichannel platform. Our shareholders will benefit from the growth potential of our large combined company as we capture growth opportunities, leverage our expertise in Fit, execute cost synergies and “We use our improved financial position to invest in our business. We look forward to working with FullBeauty and joining our teams to deliver on the promise of this combination.”
“By bringing together DXL and FullBeauty we are creating a leader in a fragmented market that will define the next decade of inclusive fashion,” said Jim Fogarty, CEO of FullBeauty and incoming CEO of the combined company. “Together we will be a powerful engine for innovation, combining data science, digital scale, proprietary fit technology and differentiated store expertise. With our shared values and mission, our incredible brand portfolio, complementary capabilities, enhanced financial profile, proven track record of successful brand integrations and the scale of a larger public company, we look forward to delivering sustainable growth, stronger margins and long-term shareholder value, while expanding customer choice in an apparel category that has historically lacked options”.