WHP Global to acquire global denim brand G-Star Raw
WHP continues to fatten up its brand portfolio.
The brand management firm said that it will acquire a majority interest in G-Star Raw in a deal that will set the stage for future global growth and expansion. Financial terms of the transaction, which is expected to close in the fourth quarter, were not disclosed.
Under the terms of the agreement, the existing G-Star shareholders, including founder Jos van Tilburg, will retain a stake in the brand. The current leadership team of G-Star Raw, led by CEO Rob Schilder, will continue to operate the brand’s marketing and product development functions as well as the wholesale, retail and e-commerce distribution out of the Amsterdam headquarters.
With the addition of G-Star Raw, WHP’s portfolio of brands generate more than $7 billion in global retail sales. In April, the company acquired menswear brand Bonobos from Walmart. In December 2022, it announced a deal to acquire a 60% stake in Express and the formation of a joint venture with the retailer.
“G-Star RAW is a strong digital denim fashion brand with an exceptional team that we believe is primed for accelerated growth,” said WHP global chairman and CEO Yehuda Shmidman.
Founded in Amsterdam in 1989, G-Star offers jeans and related products for men and women. It operates more than 185 stores globally, with 12 locations in the U.S., along with an e-commerce site. It also has a wholesale presence.
“Over the past few years, G-Star has successfully transitioned towards an online first company,” added Schilder. “We look forward to working closely with WHP Global in this partnership, as we harness their expertise to expedite G-Star’s global expansion, by strengthening our presence in the U.S. and tapping into new geographies as well as new product categories.”
WHP owns Anne Klein, Joseph Abboud, Joe’s Jeans, Bonobos, Isaac Mizrahi, Lotto, Toys"R"Us, Babies"R"Us and has a 60% interest in the Express brand. The company also owns WHP+, a turnkey direct to consumer digital e-commerce platform, and WHP Solutions, a sourcing agency based in Asia.