The Foschini Group (TFG), known for its ownership of Hobbs, Whistles, and Phase Eight, has expanded its fashion portfolio by acquiring White Stuff.
- TFG plans to retain White Stuff’s existing leadership and staff, ensuring continuity as the brand transitions under new ownership.
- The acquisition marks a strategic milestone for TFG as it aims to diversify its offerings with the inclusion of White Stuff’s lifestyle and menswear collections.
- White Stuff founders George Treves and Sean Thomas will depart from the company following the acquisition, highlighting a new chapter for the retailer.
- TFG CEO Justin Hampshire expressed commitment to investing in White Stuff to enhance brand recognition and stimulate growth.
In a significant move, The Foschini Group (TFG) has acquired White Stuff, integrating it into a portfolio that already includes prominent names like Hobbs, Whistles, and Phase Eight. This strategic acquisition not only broadens TFG’s reach in fashion retail but brings the first lifestyle brand into its fold, along with a well-established menswear offering.
TFG has announced plans to maintain the current senior leadership of White Stuff, led by CEO Jo Jenkins, along with its entire workforce. This continuity aims to facilitate a smooth transition and preserve the brand’s identity and customer loyalty.
The transaction sees the founders of White Stuff, George Treves and Sean Thomas, stepping away from the company. TFG’s acquisition was funded through a recently refinanced debt facility, reinforcing its intent to leverage financial strength for strategic brand expansion.
TFG CEO Justin Hampshire articulated the significance of the acquisition, noting that it would diversify and strengthen TFG’s existing womenswear portfolio. He also emphasized the potential for sustained growth and expanded physical presence through a strategic roll-out plan.
Hampshire further stated, “The addition of White Stuff diversifies our portfolio, bringing a loyal customer base and strong high street presence. We look forward to supporting Jo Jenkins and her team in executing an ambitious store and concession expansion strategy.”
Jo Jenkins, CEO of White Stuff, commented on the transition, expressing enthusiasm for the brand’s future under TFG’s stewardship. She highlighted the synergies between White Stuff’s brand values and TFG’s expertise in premium retail, foreseeing robust growth. Jenkins remarked, “TFG London is an ideal owner, valuing our brand and poised to support White Stuff’s next growth phase.“
The acquisition of White Stuff by TFG signals a promising expansion for both parties, paving the way for future growth within the fashion industry.
