Whistles owner The Foschini Group buys White Stuff for around £50m
The new owner has said it plans to expand White Stuff’s portfolio of shops and concessions further after positive recent growth for the brand.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.High street fashion chain White Stuff has been snapped up by South African-based retail firm The Foschini Group (TFG).
It is understood TFG, which also owns Hobbs, Whistles and Phase Eight, will pay around £50 million for the business.
The new owner has said it plans to expand White Stuff’s portfolio of shops and concessions further after positive recent growth for the brand.
The retailer, which was founded in 1985, has 113 stores and 46 concessions in the UK, with a further six stores and 25 concessions across Europe
Revenues for the business grew to a record £154.8 million in the year to April.
White Stuff chief executive Jo Jenkins will continue in the role while founders George Treves and Sean Thomas will step down from the board and leave the business.
Justin Hampshire, chief executive of TFG London, said: “With White Stuff’s strong presence on the high street and significant potential for sustained growth, we are committed to supporting Jo and her talented team with their ambitious rollout strategy to further increase its store and concession estate.
“Simultaneously, TFG London will continue to invest in the White Stuff brand and online offer to drive further awareness and growth.”
George Treves, co-founder of retailer White Stuff, said the company’s sale to TFG is “significant and emotional” for him and co-founder Sean Thomas.
“Today marks a significant and emotional milestone for Sean and me. We have spent over 40 years building this company from the ground up,” he said.
“While this decision was not an easy one, we believe it’s the right next step for White Stuff and know that TFG are committed to providing White Stuff with new opportunities for growth.”
Jo Jenkins added: “This is a very exciting moment for White Stuff and represents the natural next step for our business.
“It builds on the hard work and success the brand has achieved in recent years. TFG London is the ideal owner for our business.
“They value our brand, have a wealth of premium retail experience, and will be excellent long-term owners to support White Stuff’s next phase of growth.”