British retailer White Stuff has been acquired by TFG London.
- White Stuff founders have exited the business, marking a significant transition.
- CEO Jo Jenkins remains in position to lead future growth initiatives.
- The acquisition aims to expand White Stuff’s retail footprint and online presence.
- Record financial performance was reported in the year ending April 2024.
British retailer White Stuff has officially been acquired by TFG London, the South African owner of prominent fashion brands such as Hobbs, Whistles, and Phase Eight. This acquisition marks a pivotal moment for White Stuff, as co-founders George Treves and Sean Thomas are set to exit the company following the change in ownership.
CEO Jo Jenkins, who joined White Stuff in 2018, will continue to lead the company. She regards TFG as “the ideal owner” to support White Stuff through its next growth phase, expressing optimism about the future under this new ownership. It’s reported that there are no planned redundancies at this stage, ensuring continuity for the workforce.
White Stuff, established in 1985, operates 113 stores and 46 concessions in the UK, including partnerships with John Lewis and Marks & Spencer. The company plans to expand its physical retail presence under TFG’s stewardship. Internationally, White Stuff manages six stores and 25 concessions across Europe, complementing a robust online trading platform and a wholesale network of 606 stockists worldwide.
For the fiscal year ending 30 April 2024, White Stuff achieved record financial results with revenue of £154.8 million and an EBITDA of £8.6 million. The majority of revenue was generated through its physical store and online operations, with notable contributions from international and wholesale segments.
Justin Hampshire, CEO of TFG London, highlighted White Stuff’s strong high-street presence and potential for sustained growth. He reaffirmed TFG’s commitment to supporting Jo Jenkins and her team in expanding the store and concession estate, as well as investing in the brand’s online offerings to boost awareness and growth.
George Treves, reflecting on the founders’ departure, acknowledged the company’s substantial achievements over the last 40 years, attributing these to the dedication of their team, customer support, and supplier commitments. He expressed confidence in TFG’s ability to provide new growth opportunities for White Stuff.
The acquisition of White Stuff by TFG London marks a new chapter for the retailer, promising continued growth and expansion under new leadership.
