The Foschini Group (TFG) has expanded its portfolio by acquiring fashion retailer White Stuff.
- The acquisition sees TFG maintaining the current leadership team at White Stuff, led by CEO Jo Jenkins.
- White Stuff founders George Treves and Sean Thomas will step down following the acquisition.
- TFG plans to invest in the White Stuff brand to enhance growth and online presence.
- The move is a significant milestone in TFG’s strategy to diversify its womenswear portfolio.
The Foschini Group (TFG), a prominent player in the fashion retail sector, has strategically acquired White Stuff, further broadening its brand portfolio. The acquisition underscores TFG’s commitment to strengthening its market presence by introducing new brands into its fold. This move will see the White Stuff retain the expertise of its senior leadership team, with CEO Jo Jenkins continuing at the helm.
Founders George Treves and Sean Thomas will exit the business, marking the end of an era for White Stuff. Their departure signifies a fresh start under TFG’s leadership, which aims to leverage the established reputation of White Stuff in the fashion industry.
Funding for this acquisition was sourced from TFG’s recently refinanced debt facility, highlighting the group’s robust financial strategy. This financial manoeuvre is poised to support the brand’s growth and enable further development of its online offerings, as stated by TFG CEO, Justin Hampshire.
Hampshire emphasized the importance of this acquisition, describing it as an opportunity to diversify TFG’s existing portfolio. He noted the addition of White Stuff as a lifestyle brand enriches TFG’s womenswear offerings while also tapping into a solid menswear market and loyal customer base.
The company intends to bolster White Stuff’s presence on the high street, highlighting its commitment to expanding the brand’s retail footprint. TFG plans to support White Stuff’s strategic roll-out to increase its store and concession network, thereby securing its position as a key player in the British fashion scene.
Jo Jenkins, CEO of White Stuff, expressed enthusiasm about this new chapter, recognizing TFG’s retail experience as instrumental in supporting White Stuff’s future growth. She highlighted the natural progression this acquisition represents for the brand, building on previous successes.
This acquisition marks a new chapter for White Stuff under TFG’s stewardship, fostering further growth and development.
