British fashion retailer White Stuff was acquired by TFG London, marking a significant transition for the brand.
- Founders George Treves and Sean Thomas are stepping down, while CEO Jo Jenkins continues to lead.
- TFG plans to expand White Stuff’s retail footprint and online presence significantly.
- The acquisition aims to propel the brand’s growth, leveraging TFG’s resources and expertise.
- White Stuff achieved a record revenue of £154.8m in the year ending April 2024.
British fashion and lifestyle retailer White Stuff has been acquired by TFG London, a South African owner of prominent fashion brands. The acquisition marks an important transition as the company’s co-founders, George Treves and Sean Thomas, announced their departure. CEO Jo Jenkins will remain at the helm, signaling a continued focus on steady leadership amidst this change.
Jenkins, who has been CEO since 2018, expressed optimism about the acquisition, indicating that TFG London is viewed as an ideal proprietor to lead White Stuff into its next growth phase. With no redundancies anticipated, Jenkins emphasized the abundant opportunities for growth and innovation under the new ownership.
Founded in 1985, White Stuff boasts a substantial presence with 113 stores and 46 concessions within major UK retailers like John Lewis and Marks & Spencer, alongside ambitions for additional physical expansion. Furthermore, outside of the UK, the company maintains six stores and 25 concessions across Europe, supplemented by a direct-to-consumer online platform that bolsters its wholesale operations with 606 stockists worldwide.
In the fiscal year ending April 2024, White Stuff reported an impressive revenue of £154.8 million, with EBITDA reaching £8.6 million. A significant 85% of its revenue emanated from its brick-and-mortar and digital operations, with international and wholesale ventures contributing the remainder.
TFG London, under the leadership of CEO Justin Hampshire, has committed to fortifying and expanding White Stuff’s market presence. Recognizing White Stuff’s powerful high-street presence and growth potential, Hampshire confirmed TFG’s investment in enhancing both the brand’s physical and online offerings to elevate brand awareness and stimulate growth further.
Acknowledging the foundational role played by Treves and Thomas, Hampshire expressed gratitude for their dedication. The founders reflected positively on their departure, acknowledging the extensive journey and success achieved over the decades. Treves stated, “While this decision was not an easy one, it’s the right next step for White Stuff.”
The acquisition signifies a promising new era for White Stuff, backed by TFG’s strategic support and vision.
