WHP Global Is The New Owner Of G-Star Raw

WHP GLOBAL HAS FINALIZED A DEAL TO ACQUIRE A MAJORITY INTEREST IN G-STAR RAW.

Netherlands — Dutch clothing company G-Star Raw has a new majority owner. The company was purchased by New York – based firm WHP Global. At the time of this post, financial terms of the transaction were not disclosed but founder Jos van Tilburg will retain an undisclosed minority stake in the brand. The current leadership team, led by chief executive officer Rob Schilder, will continue to operate the marketing and product development as well as the wholesale, retail, and e-commerce distribution out of the company’s Amsterdam headquarters.

WHP Global’s portfolio of brands include Anne Klein, Joseph Abboud, Joe’s Jeans, Bonobos, Isaac Mizrahi, Lotto, Toys “R” Us and Babies “R” Us. It also holds a 60 percent interest in the Express brand.

“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,” van Tilburg said.

“G-Star Raw is a strong digital denim fashion brand with an exceptional team that we believe is primed for accelerated growth,” said WHP’s global chairman and CEO Yehuda Shmidman. “We are thrilled to partner with founder Jos van Tilburg and CEO Rob Schilder.”

“Over the past few years, G-Star has successfully transitioned toward an online-first company,” Schilder noted. “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.”

Photos Credit: AP

Source: WWD