Hobbs, Whistles and Phase Eight owner TFG London acquires White Stuff

TFG London, owner of Hobbs, Whistles and Phase Eight fashion brands, has acquired British fashion and lifestyle retailer, White Stuff. Without disclosing the financial details, the company said that the acquisition will be funded from the group’s recently refinanced debt facility..

TFG London said in a release that it will retain White Stuff’s senior leadership team, led by CEO Jo Jenkins, and all colleagues across the business. White Stuff’s founders, George Treves and Sean Thomas, will step down from the board and leave the business.

This acquisition is TFG London’s fourth transaction, after having first acquired Phase Eight in 2015, followed by the acquisitions of Whistles and Hobbs.

Commenting on the development, Justin Hampshire, CEO of TFG London, said: “We are thrilled to welcome the White Stuff team into the TFG London family. 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.”

White Stuff was founded in 1985 and specialises in clothing and accessories for women, men and children. The brand is present in 113 stores and 46 concessions in the UK with John Lewis, Marks & Spencer and other independents with a new store opening pipeline.

“This is a very exciting moment for White Stuff and represents the natural next step for our business. TFG London values our brand, has a wealth of premium retail experience, and will be excellent long-term owners to support White Stuff’s next phase of growth,” added Jo Jenkins, White Stuff’s CEO.

The business also operates six stores and 25 concessions across Europe. and sells internationally via its website and has 606 wholesale stockists including 178 in the UK and Ireland and 428 internationally.

In the year to April 30, 2024, the brand reported revenue of 154.8 million pounds and EBITDA of 8.6 million pounds. Over 85 percent of the company’s revenue was generated from the store estate and online, with the remainder generated from its international and wholesale operations.