The British retailer White Stuff has been acquired by TFG, prompting a leadership change.
- White Stuff’s co-founders, George Treves and Sean Thomas, announced their exit alongside the sale.
- TFG, based in South Africa, owns several fashion brands and seeks to expand White Stuff’s reach under its guidance.
- CEO Jo Jenkins remains with White Stuff, expressing optimism about future growth with TFG’s support.
- The acquisition aims to enhance White Stuff’s presence both on the high street and online.
British fashion and lifestyle retailer White Stuff has been sold to TFG London, a move marking the exit of its co-founders, George Treves and Sean Thomas. Announced on 25 October, this acquisition leads to a new chapter for the 39-year-old brand, maintaining its leadership under CEO Jo Jenkins. TFG, a South African retail group known for owning brands such as Hobbs, Whistles and Phase Eight, has acquired White Stuff for an undisclosed sum. Jenkins, who has led White Stuff since 2018, affirmed TFG as the ideal new owners, praising their potential to bolster White Stuff’s growth trajectory.
The acquisition brings substantial changes in leadership but no immediate redundancies are anticipated. Jenkins continues her role with a sense of opportunity, emphasising confidence in the business’s future under TFG’s ownership. White Stuff is planning to grow its physical retail footprint, with 113 stores and 46 concessions across the UK, and further presence in Europe through its international DTC website and wholesale portfolio.
White Stuff reported a record revenue of £154.8 million in the year ending 30 April 2024, with an EBITDA of £8.6 million. The bulk of this revenue stemmed from its physical stores and online operations. TFG London’s CEO, Justin Hampshire, articulated a commitment to assisting Jo Jenkins and her team to expand White Stuff’s store and concession presence. He mentioned ongoing investments in enhancing brand and online offerings to ensure sustained growth.
Hampshire also acknowledged the legacy of Treves and Thomas, whose dedication over four decades was pivotal in shaping White Stuff. Treves expressed gratitude towards the team, customers, and suppliers, remarking on the bold steps taken over the years that led to their dream realisation.
The future under TFG’s stewardship is seen as a strategic opportunity for White Stuff, with TFG expressing its readiness to nurture the brand through its next growth phase.
The acquisition of White Stuff by TFG marks a promising new era for the retailer, leveraging significant growth opportunities under new ownership.
