The potential acquisition of fashion chain White Stuff by Foschini Group is progressing rapidly. This move could significantly impact the high street fashion landscape, particularly in the UK.
- An agreement for Foschini Group to buy White Stuff might be finalised shortly, according to insider reports.
- The potential purchase price is speculated to be around £50 million, although negotiations continue.
- Foschini Group’s expansion strategy includes a forthcoming flagship store in Liverpool, which will showcase multiple brands.
- Investment bank Rothschild is facilitating the current discussions following interest from a previous buyer.
The potential acquisition of White Stuff by the Foschini Group, which owns prominent UK fashion brands such as Hobbs and Whistles, is advancing swiftly, reports suggest. This strategic acquisition could enhance Foschini’s presence in the competitive high street fashion sector.
Insiders indicate that discussions could lead to a conclusive agreement within a matter of days. The acquisition price remains under negotiation, but estimates suggest it may be in the vicinity of £50 million, reflecting the market’s valuation of White Stuff.
The Foschini Group, with its British subsidiary TFG London, already holds a diverse portfolio that includes brands like Phase Eight and Damsel in a Dress. This acquisition could further consolidate its influence in the UK retail market.
The group’s expansive plans also include opening its largest multi-brand store in Liverpool next spring. This flagship location will feature a comprehensive range of offerings from Hobbs, Phase Eight, and Whistles, catering to various fashion needs, including bridal and petite collections. Such moves underline Foschini’s commitment to strengthening its market position.
Facilitating the discussions and ensuring a smooth negotiation process is Rothschild, a prominent investment bank, which both the Foschini Group and White Stuff engaged earlier in the year after an unsolicited acquisition offer surfaced.
The rapid progression of these talks suggests a strategic expansion for Foschini Group, potentially reshaping its high street presence.
