Global brand management company WHP Global has announced an agreement to acquire a majority stake in global denim brand G-Star Raw.
As part of the deal, current G-Star shareholders, including company founder Jos van Tilburg, will retain ownership of the name. Financial details of the deal were not disclosed, but it is expected to close in the fourth quarter of 2023.
“In WHP Global, we have the right strategic and financial partner for continued global and sustainable growth for decades to come, while remaining true to our signature product, dedicated teams and our loyal business partners,” said van Tilburg.
The brand’s marketing and product development and wholesale, retail and e-commerce distribution divisions will continue to be led by the G-Star Raw team currently in place, led by CEO Rob Schilder. The brand was first founded in Amsterdam in 1989, so that’s where their headquarters will be.
“Over the past few years, G-Star has successfully transitioned to an online-first business. We look forward to working closely with WHP Global in this partnership as we leverage their expertise to accelerate G-Star’s global expansion,” added Schilder.
With the addition of G-Star Raw, WHP Global’s portfolio of brands now generates over $7 billion in retail sales. In addition, it owns names such as Anne Klein, Joseph Abboud, Joe Jeans and others. It also bought menswear brand Bonobos, Inc. from Walmart earlier this year, along with fashion store Express, in which it owns a 60 percent stake.
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