The Foschini Group has acquired fashion retailer White Stuff in a strategic move.
- White Stuff’s leadership, led by CEO Jo Jenkins, will remain in place.
- Founders George Treves and Sean Thomas will leave after the acquisition.
- The purchase was facilitated through TFG’s refinanced debt facility.
- TFG aims to enhance White Stuff’s brand presence and market reach.
The Foschini Group (TFG), renowned for owning brands such as Hobbs, Whistles, and Phase Eight, has strategically acquired White Stuff. This acquisition highlights TFG’s commitment to broadening its portfolio by incorporating diverse brands into its group.
In this transition, TFG has made it clear that they will retain White Stuff’s senior leadership team, which is currently under the guidance of CEO Jo Jenkins, along with all existing staff. This move ensures continuity within the business and maintains its operational ethos.
Following the transaction, White Stuff founders George Treves and Sean Thomas have announced their departure from the company. Their exit marks the end of an era for the founders, who established the brand and guided it to its current stature.
The acquisition was financed through TFG’s recently refinanced debt facility. This financial strategy allows TFG to integrate White Stuff into its operations smoothly, using carefully planned fiscal resources.
TFG’s CEO, Justin Hampshire, has articulated the group’s intentions to invest in and expand White Stuff’s brand, particularly its online presence. Hampshire stated that this acquisition strengthens TFG’s existing womenswear portfolio and introduces White Stuff as its first lifestyle brand.
Additionally, Hampshire expressed strong support for Jo Jenkins and her team, emphasising their plans to broaden White Stuff’s store and concession footprint. The objective is to harness the brand’s current strengths on the high street and propel it towards sustained growth.
The acquisition of White Stuff by TFG marks a pivotal step in expanding its portfolio and market influence.
