Global brand management firm WHP Global announced on Tuesday an agreement to acquire a majority interest in global denim brand G-Star Raw.
As part of the agreement, the existing G-Star shareholders, including founder Jos van Tilburg, will retain a stake in the brand. Financial terms of the transaction, which is expected to close in Q4 2023, were not disclosed.
“In WHP Global, we experience the right strategic and financial partner for further global and sustainable growth in the decades to come, while staying true to our signature product, our dedicated teams, and our loyal business partners,” said van Tilburg.
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. They will work out of the Amsterdam headquarters, where the brand was originally founded in 1989.
“Over the past few years, G-Star has successfully transitioned towards an online first company. 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,” added Schilder.
WHP Global’s portfolio of brands now generates over USD $7 billion in retail sales, with the acquisition of G-Star Raw. It also owns brands such as Anne Klein, Joseph Abboud, Joe Jeans and more. Earlier this year, it also acquired menswear brand Bonobos, Inc. from Walmart, alongside fashion apparel retailer Express, which it owns a 60% interest in.
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