On October 25, TFG London, the South Africa-based fashion retail giant, acquired the British fashion and lifestyle brand White Stuff.
Already home to brands such as Hobbs, Whistles, and Phase Eight, TFG London aims to further solidify its footprint in the UK with this strategic purchase. White Stuff, now under TFG’s ownership, is expected to accelerate its retail expansion and enter a new growth phase.
Founded in 1985, White Stuff has built a reputation for its sustainable fashion items. The brand currently operates 113 stores and 46 concessions across the UK, including locations within John Lewis and Marks & Spencer. White Stuff also maintains a broader European presence, with six stores and 25 concessions, and an international DTC website that complements its wholesale network of 606 stockists. In the fiscal year ending April 2024, White Stuff recorded its highest-ever revenue of £154.8 million and an EBITDA of £8.6 million.
Jo Jenkins, CEO of White Stuff since 2018, will continue to lead the company, driving forward its store and concession expansion strategy. In a statement, Jenkins expressed optimism about the acquisition, noting, “There is so much opportunity for us as a business and I feel very positive as we start our next chapter.”
In contrast, founders George Treves and Sean Thomas will step down from the business following the acquisition. Reflecting on the decision, Treves stated, “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.”
Justin Hampshire, CEO of TFG London, highlighted White Stuff’s strong position in the UK’s high street market and its potential for sustained growth. “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 roll out strategy to further increase its store and concession estate,” said Hampshire.
For TFG London, the acquisition represents a crucial step toward achieving critical mass in the UK market and broadening its appeal among diverse customer segments. The move also aligns with TFG’s strategy of expanding its portfolio to cater to the varied needs of the UK fashion market.