NEW YORK — Wal-Mart has agreed to sell its iconic white sandal to a luxury beach resort in Jamaica, ending more than a decade of speculation about the brand.
Walmart spokeswoman Julie Lippel confirmed the agreement Friday with The Associated Press.
She said the company has sold more than 3 million of the sandals in the United States.
The agreement comes amid concerns about the sandal’s environmental impact and has led to protests at Wal-Marts stores around the country.
The company, based in Bentonville, Ark., has been struggling to gain traction in the market.
The company is the world’s second-largest retailer, with sales of $1.5 trillion last year, according to data compiled by Bloomberg.
The new owners, which includes a private equity firm and a private foundation, will pay $300 million for the sandaled shoes.
The deal will be made public once it is finalized, Lippen said.
Wal-Mart, based at the same Walmart Supercenter store as Walmart, is one of the largest U.S. retailers.
It has struggled to win over customers and its brands, including its signature red and blue sandals and its signature outdoor gear.
The company has been under pressure from environmental groups and lawmakers to take action against the toxic chemicals found in some of its products, including the dioxin used in paint thinner and in the manufacture of plastics.
Environmental groups, including Environmental Defense Fund, have urged Wal-mart to phase out the use of dioxins in products, while other companies, including Nike, have come under fire for using dioxinos.
In 2013, Wal-marts announced it was ending its use of chlorinated dioxines in its paint and epoxy resins.
Walmart was among the first retailers to voluntarily phase out dioxs, which were used to make paint thinner, in the 1970s.
Companies have struggled to attract customers after they began using the toxic dioxine.
The U.N. Food and Agriculture Organization has said dioxates are the leading cause of cancer worldwide.
At least 1.7 million Americans live in communities that have experienced dioxide contamination.