The Foschini Group is nearing a significant acquisition agreement with White Stuff, marking a major move in the fashion retail sector.
- Advanced discussions are underway, with the deal expected to finalise shortly.
- The acquisition aligns with Foschini’s expansion strategy, seeking to enhance its market presence.
- The financial terms of the deal are still under negotiation, with estimates suggesting a valuation around £50m.
- Foschini plans to leverage its existing resources and market knowledge to support White Stuff’s growth.
The Foschini Group (TFG), the owner of Hobbs and Whistles, is in advanced talks to acquire the fashion chain White Stuff, according to Sky News reports. An agreement is anticipated soon, reflecting TFG’s strategic initiative to bolster its retail portfolio.
While the exact price remains under discussion, analysts predict the valuation hovers around £50 million. This acquisition represents a calculated step in TFG’s expansion efforts, particularly within the UK market, where White Stuff maintains a significant presence.
TFG operates a British subsidiary known as TFG London, which oversees other brands including Phase Eight, and Damsel in a Dress. The company has coordinated with investment bank Rothschild to manage discussions following an unsolicited offer from an unidentified buyer earlier this year.
Foschini’s plans include opening its largest multi-brand store in Liverpool One next spring. The new 12,000 sq ft store will feature luxury fashion items from Hobbs, contemporary wear from Whistles, and event-specific collections such as bridal and petite ranges.
This acquisition aims to capitalise on TFG’s existing high street strength, enhancing growth through strategic investments and expanded consumer offerings.
The acquisition of White Stuff by the Foschini Group exemplifies a strategic effort to consolidate market position and expand its retail footprint.
