TFG London, the proprietor of Hobbs, Whistles and Section Eight, has immediately introduced it has acquired British vogue and life-style retailer, White Stuff.
This acquisition is a big milestone in TFG’s technique to broaden its portfolio of name. It first acquired Section Eight in 2015 after which later added Whistles and Hobbs to the group.
The acquisition can be funded from the Group’s not too long ago refinanced debt facility.
Justin Hampshire, CEO of TFG London, stated: “We’re thrilled to welcome the White Stuff group into the TFG London household… The addition of White Stuff to TFG London diversifies and strengthens our present womenswear portfolio, including the primary life-style model whereas additionally bringing a well-established menswear supply and its loyal and resilient buyer base.”
Established in 1985 by George Treves and Sean Thomas, White Stuff is a British vogue and life-style model promoting menswear, womenswear and kidswear in addition to equipment and homeware. In 1991, the corporate opened its first retailer in London. Its presence has since mushroomed and it now boasts a portfolio of 113 shops and 46 concessions within the UK in retailers akin to John Lewis and Marks & Spencer.
White Stuff has a historical past of stable monetary efficiency and in its most up-to-date monetary report, for the 12 months to 30 April 2024, the enterprise reported a file end result with income of £154.8 million.
As a part of the acquisition, TFG will hold White Stuff’s skilled senior management group on board, led by CEO Jo Jenkins. Nonetheless, the White Stuff’s Founders, George Treves and Sean Thomas, will step down from the board and exit the enterprise.
George Treves, Co-Founding father of White Stuff, stated: “At this time marks a big and emotional milestone for Sean and me. We have now spent over 40 years constructing this firm from the bottom up. We have now achieved greater than we ever dreamed doable, due to the unbelievable dedication of our group, the help of our prospects, and the dedication of our suppliers. Collectively, we have now constructed one thing actually particular.
“Whereas this determination was not a simple one, we imagine it’s the proper subsequent step for White Stuff and know that TFG are dedicated to offering White Stuff with new alternatives for development.
“Thanks to everybody who has been part of our journey – we couldn’t have carried out it with out you.”
Jo Jenkins, White Stuff’s CEO, added: “It is a very thrilling second for White Stuff and represents the pure subsequent step for our enterprise. It builds on the arduous work and success the model has achieved lately.
“TFG London is the perfect proprietor for our enterprise. They worth our model, have a wealth of premium retail expertise, and can be glorious long-term house owners to help White Stuff’s subsequent section of development.”
