The Foschini Group (TFG) has acquired White Stuff, a significant move in its brand expansion strategy.
- TFG plans to retain White Stuff’s senior leadership, including CEO Jo Jenkins, and all current employees.
- White Stuff founders George Treves and Sean Thomas will exit the board post-acquisition.
- The acquisition, termed a milestone by TFG, is backed by a newly refinanced debt facility.
- TFG aims to enhance White Stuff’s brand presence and online growth, supporting its expansion strategy.
The Foschini Group (TFG) expands its fashion portfolio by acquiring White Stuff, marking a strategic move to include lifestyle and menswear brands. The acquisition underscores TFG’s intent to diversify its offerings through strategic brand inclusion. It has been confirmed that White Stuff’s current leadership, led by CEO Jo Jenkins, will continue to steer the company, ensuring stability and continuity for both staff and operations.
With the acquisition, founders George Treves and Sean Thomas will step down from their board roles, paving the way for new directions under TFG’s ownership. The deal, which TFG labels as a significant milestone, is financed through a newly refinanced debt facility, highlighting a calculated approach to funding its expansion ambitions.
Justin Hampshire, CEO of TFG, emphasises the group’s commitment to nurturing the White Stuff brand. He asserts this step will not only diversify TFG’s womenswear portfolio but also integrate a robust menswear offering, driven by White Stuff’s strong high street presence and resilient customer base. Hampshire states, “We will continue to invest in the White Stuff brand and online offer to drive further awareness and growth.”
Hampshire further elaborates on the potential for growth, supporting White Stuff’s expansion plans to increase the number of stores and concessions. He expresses enthusiasm about becoming the custodian of White Stuff, recognising the contribution of its founders to its current prominence and wishing them success in future ventures.
Jo Jenkins views the acquisition as a natural progression for White Stuff, aligning with its recent successes. She appreciates TFG as an ideal partner due to its rich retail experience and commitment to long-term growth, setting a promising path forward for White Stuff.
The acquisition of White Stuff by TFG represents a strategic expansion of its fashion portfolio, poised to foster growth and diversification.
