White Stuff, a leading British fashion retailer, has been acquired by South African company TFG London for an undisclosed amount.
- Founders George Treves and Sean Thomas will step down, marking the end of an era for White Stuff.
- Jo Jenkins will continue as CEO, with no job cuts anticipated post-acquisition.
- White Stuff’s international footprint includes over 113 UK stores and numerous European concessions.
- TFG London aims to fortify White Stuff’s retail presence and online operations under its leadership.
TFG London, a prominent South African retail company, has completed the acquisition of British fashion and lifestyle retailer White Stuff. While the financial terms remain undisclosed, the acquisition notably marks the exit of White Stuff’s co-founders, George Treves and Sean Thomas, who are stepping down from their roles. Both founders originally established White Stuff in 1985, and their departure signifies a pivotal moment in the company’s history.
Jo Jenkins, who has helmed White Stuff since 2018, is set to continue as CEO. According to Jenkins, TFG London is seen as an ideal long-term owner to support White Stuff’s future growth initiatives. Significantly, TFG London confirmed that no redundancies are expected in the immediate aftermath of the acquisition, suggesting a stable transition and continued emphasis on the development of the brand’s potential.
White Stuff operates an extensive network of 113 stores and 46 concessions within the UK, with additional outlets in Europe, including partnerships with major retailers such as John Lewis and Marks & Spencer. Furthermore, the brand is actively pursuing further expansion under TFG London’s stewardship. The company’s digital presence is robust, with online sales complementing its wholesale portfolio of over 600 stockists globally.
Financially, White Stuff reported record-breaking figures in the year ending April 2024, with revenues reaching £154.8 million and an EBITDA of £8.6 million. Over 85% of these revenues were derived from direct store and online sales, illustrating the strength of White Stuff’s consumer reach and retail operations.
Comments from TFG London’s CEO, Justin Hampshire, affirm a strategic vision aimed at enhancing White Stuff’s high street and digital footprints. The plan includes an ambitious expansion of its store and concession portfolio while simultaneously investing in online growth to increase brand awareness.
Reflecting on four decades of entrepreneurship, George Treves expressed gratitude for the support from their team, customers, and suppliers. Thomas and Treves have conveyed their confidence in TFG London’s capacity to provide White Stuff with new growth opportunities, underscoring their belief in a promising future for the brand.
White Stuff’s acquisition by TFG London heralds a transformative chapter with potential for growth and expansion.
