White Stuff, a popular fashion retailer, has been acquired by The Foschini Group (TFG).
- The existing leadership team, including CEO Jo Jenkins, will stay on board under the new ownership.
- Founders George Treves and Sean Thomas will step down from the board following the acquisition.
- TFG views this acquisition as a strategic move to bolster its brand portfolio.
- Investment plans are in place to boost White Stuff’s brand presence and online offerings.
The Foschini Group, known for its ownership of brands like Hobbs and Whistles, has successfully acquired the fashion retailer White Stuff. This move aligns with TFG’s strategy to expand its brand offerings, marking a significant chapter in its growth.
Despite the change in ownership, White Stuff’s senior leadership team, spearheaded by CEO Jo Jenkins, will continue to manage the brand’s operations. This decision underscores TFG’s confidence in the existing management to drive the brand forward.
The founders of White Stuff, George Treves and Sean Thomas, will step away from the board. This transition highlights a new era for the retailer as it becomes part of TFG’s diverse portfolio.
TFG sees this acquisition as a pivotal step in its broader strategy to incorporate new and diverse brands. This goal is supported by the group’s recently refinanced debt facility, ensuring financial stability for upcoming initiatives.
According to TFG CEO Justin Hampshire, the company will focus on enhancing White Stuff’s brand visibility and growing its online and physical presence. This includes supporting White Stuff’s existing team in their plans to expand their store and concession network.
Hampshire emphasized the importance of White Stuff’s high street presence and its potential for ongoing growth, reflecting TFG’s commitment to maintain and elevate the brand’s standing in the market.
Jo Jenkins expressed enthusiasm about the acquisition, noting that TFG’s wealth of experience in premium retail provides strong support for White Stuff’s continued success. This transition is seen as a natural progression for the brand, promising further developments in its growth journey.
The acquisition marks a promising new chapter for White Stuff under TFG’s stewardship.
