TFG announced that it has acquired UK-based fashion and lifestyle retailer, White Stuff, confirming earlier reports that a deal was about to be struck for the purchase.<\/p>\n\n\n\n
The acquisition was made through the London subsidiary of the South African-headquartered TFG Limited Group, which has a portfolio of 35 leading retail brands in 23 countries. <\/p>\n\n\n\n
The White Stuff brand joins the group’s suite of UK-based fashion brands already owned by TFG, such as Hobbs, Whistles, and Phase Eight.<\/p>\n\n\n\n
Founded in 1985, White Stuff specialises in unique, thoughtfully designed clothing and accessories for women, men and children. <\/p>\n\n\n\n
White Stuff has 113 stores and 46 concessions in the UK, including John Lewis, Marks & Spencer, and other quality independent retailers. <\/p>\n\n\n\n
The business also operates six stores and 25 concessions across Europe, retails online internationally, and has 606 wholesale stockists\u2014178 in the UK and Ireland and 428 internationally. <\/p>\n\n\n\n
Online sales currently contribute 43% of total sales.<\/p>\n\n\n\n
TFG CEO Anthony Thunstr\u00f6m said the acquisition marks a significant milestone in TFG London\u2019s medium-term strategy to achieve critical mass and add new brands to the Group. The group first acquired Phase Eight in 2015 and later acquired Whistles and Hobbs. <\/p>\n\n\n\n
The group said TFG London will now be able to create a unified retail platform in the United Kingdom, which largely mirrors our platform structure in Africa and Australia.<\/p>\n\n\n\n
\u201cThis acquisition represents a meaningful build-out of our London business, adding close to 50% to TFG London\u2019s turnover. White Stuff is a prominent high brand-equity business in the UK and has potential for strong, sustained growth. <\/p>\n\n\n\n
“We are excited about its prospects and very pleased to be retaining the experienced senior management team led by CEO Jo Jenkins,\u201d said Thunstr\u00f6m.<\/p>\n\n\n\n
TFG London CEO Justin Hampshire said the addition of White Stuff will diversify and strengthen the group’s existing womenswear portfolio. It will add the first lifestyle brand while also bringing a well-established menswear offer.<\/p>\n\n\n\n
According to the group, White Stuff achieved revenue of \u00a3154.8 million and EBITDA of \u00a38.6 million in the financial year to 30 April 2024.<\/p>\n\n\n\n
It said over 85% of revenue was generated from the store estate and online, with the remainder from its international and wholesale operations.<\/p>\n\n\n\n
TFG did not disclose the value of the acquisition, but UK media estimated a figure of around \u00a350 million (~R1 billion) in earlier reports.<\/p>\n\n\n\n