WHP Global to Acquire Global Denim Brand G-Star RAW

News provided by

Sep 05, 2023, 09:00 ET

G-Star RAW positions itself for further expansion with WHP Global as new strategic partner

AMSTERDAM and NEW YORK, Sept. 5, 2023 /PRNewswire/ -- G-Star RAW and WHP Global, one of the fastest growing global brand management firms in the world, today announced an agreement where WHP Global will acquire a majority interest in the G-Star RAW^® brand, setting the stage for further global growth and expansion.

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.

Including G-Star RAW, WHP Global's portfolio of brands generates over USD $7 billion in retail sales, further growing the company into one of the largest brand management firms in the world.

Founder Jos van Tilburg addressed: "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."

"G-Star RAW is a strong digital denim fashion brand with an exceptional team that we believe is primed for accelerated growth. We are thrilled to partner with founder Jos van Tilburg and CEO Rob Schilder," said WHP Global Chairman and CEO Yehuda Shmidman.

"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 Rob Schilder, CEO of G-Star.

The transaction is expected to close in Q4 2023, subject to customary closing conditions including works council procedure. Financial terms of the transaction are not being disclosed.

ABOUT G-STAR
G-Star RAW (originally founded in Amsterdam in 1989) looks at denim differently. The 'Art of Denim' is the philosophy behind a relentless pursuit to push boundaries. It inspires the brand's craftmanship and approach to denim. The world of art and culture takes G-Star beyond the realm of fashion. It gives them a unique position in the denim landscape where they see no limits. Turning denim into a force of progress that respects people and the planet.

ABOUT WHP GLOBAL
WHP Global is a leading New York based firm that acquires global consumer brands and invests in high-growth distribution channels including digital commerce platforms and global expansion. WHP owns ANNE KLEIN^®, JOSEPH ABBOUD^®, JOE'S JEANS^®, BONOBOS^®, ISAAC MIZRAHI^®, LOTTO^®, TOYS"R"US^®, BABIES"R"US^®, and a 60% interest in the EXPRESS^® brand. The company signed an agreement to acquire the G-STAR RAW brand. Collectively the brands generate over USD $7 billion in global retail sales. The company also owns WHP+, a turnkey direct to consumer digital e-commerce platform, and WHP SOLUTIONS, a sourcing agency based in Asia.