The Foschini Group is close to acquiring the fashion chain White Stuff, aiming to expand its presence in the UK market.
- Negotiations are advanced, with the deal expected to be concluded shortly.
- The acquisition follows an unsolicited offer from a potential buyer, prompting strategic discussions.
- The anticipated purchase price for White Stuff is estimated around £50 million, though exact figures remain under negotiations.
- The move aligns with Foschini’s broader strategy, highlighted by the opening of a large multi-brand store in Liverpool next year.
The Foschini Group, known for owning brands such as Hobbs and Whistles, is in advanced talks to acquire the fashion retailer White Stuff. This acquisition is part of Foschini’s strategic expansion within the United Kingdom, as reported by Sky News. The negotiations are said to be in their final stages, with an agreement possibly being reached within a matter of days.
While the exact price for White Stuff remains under negotiation, analysts estimate that the value of the acquisition could be approximately £50 million. This figure, however, is not yet confirmed. Foschini’s British subsidiary, TFG London, is spearheading these discussions, underscoring the company’s commitment to bolstering its portfolio in the UK market.
Earlier in the year, Rothschild, an investment bank, was enlisted to navigate these discussions after Foschini received an unsolicited approach from a potential buyer. This move speaks to Foschini’s proactive strategy in securing assets that complement its existing brand range, which includes not only Hobbs and Whistles but also Phase Eight and Damsel in a Dress.
In alignment with its expansion strategy, The Foschini Group announced plans to open its largest multi-brand store at Liverpool One. Scheduled for next spring, the new flagship store on South John Street will cover 12,000 square feet, featuring luxury fashion from Hobbs, occasionwear from Phase Eight, and contemporary womenswear from Whistles. This store will also offer specialised collections, including bridal and petite ranges, along with a luxury styling suite dedicated to event shoppers.
This acquisition and the subsequent expansion efforts signify Foschini’s focused approach to increasing its footprint within the competitive UK fashion retail sector.
Foschini Group’s potential acquisition of White Stuff marks a significant step in the company’s strategic growth in the UK fashion market.
