The Foschini Group (TFG), known for its ownership of Hobbs and Whistles, is in advanced discussions to acquire White Stuff.
- Sky News reports suggest that TFG is close to sealing the deal with the fashion retailer.
- The exact purchase price remains uncertain, but analysts estimate it could be around £50 million.
- Rothschild investment bank has been involved in facilitating the arrangement since an earlier unsolicited proposal.
- TFG plans significant growth, with a new flagship store set to open in Liverpool next spring.
The Foschini Group (TFG), widely recognised for operating leading brands such as Hobbs and Whistles, is on the brink of purchasing the clothing chain White Stuff. This potential acquisition signifies strategic growth and wide-ranging expansion plans for TFG within the UK market.
According to reports from Sky News, TFG could finalise the agreement imminently. While the exact financial terms have not been disclosed, analysts project the value of the acquisition to be about £50 million, suggesting a substantial investment from the South African retail powerhouse.
Rothschild, a prestigious investment bank, was brought into the process earlier this year. This collaboration followed an unsolicited approach from another interested buyer, illustrating the competitive landscape surrounding White Stuff’s market position.
TFG’s aspirations do not stop with acquisitions. Earlier this month, the company announced its vision of opening its largest multi-brand outlet in the Liverpool One shopping centre. The store, which spans 12,000 square feet, is poised to feature luxury and contemporary fashion collections from Hobbs and others. This development highlights TFG’s commitment to enhancing its physical retail presence with an array of brands and specialised fashion lines.
These strategic moves come at a time when many retailers are reassessing their market strategies and physical store commitments amidst evolving consumer behaviours. TFG’s actions indicate a forward-thinking approach to capturing greater market share and catering to diverse customer preferences.
This acquisition and expansion underline TFG’s robust strategy for growth within the competitive fashion landscape.
