TFG London acquires White Stuff
Lifestyle fashion brand White Stuff has been acquired by TFG London, the owner of Hobbs, Whistles and Phase Eight.
In a statement, TFG said the move forms part of its strategy to add new brands to its portfolio and will be funded from its recently refinanced debt facility.
Founded in 1985, White Stuff has 113 stores and 46 concessions in the UK and six shops and 25 concessions in Europe. It also sells internationally through its website and has 606 wholesale stockists, including 178 in the UK and Ireland. In the year to end April 2024, the brand delivered a record result with revenue of £155 million and EBITDA of £8.6 million.
Following the purchase, TFG will support White Stuff in its strategy to grow its store and concession estate and will also invest in online offering. In addition, it will be retaining the White Stuff team, which is led by chief executive Jo Jenkins.
However, White Stuff’s founders, George Treves and Sean Thomas, will step down from the board and leave the business.
Justin Hampshire, chief executive of TFG London, said: “We have long admired the White Stuff brand which is synonymous with unique detail and exceptional quality. The addition of White Stuff to TFG London diversifies and strengthens our existing womenswear portfolio, adding the first lifestyle brand while also bringing a well-established menswear offer and its loyal and resilient customer base.”
Jenkins added: “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.”
