New York brand management firm WHP Global has secured a majority stake in Dutch denim specialist G-Star Raw.
The agreement is designed to fuel the brand’s global growth and expansion, WHP Global announced on Tuesday. Part of that strategy is to leverage WHP Global’s expertise to accelerate G-Star’s global expansion, said G-Star CEO Rob Schilder. To this end, the brand wants to strengthen its presence in the USA and open up new regions and new product categories.
Management team remains G-Star
Schilder and his leadership team remain active at G-Star and will continue to lead the brand’s marketing and product development functions as well as wholesale, retail and e-commerce sales from its Amsterdam headquarters. The previous shareholders – including founder Jos van Tilburg – should also remain involved in G-Star.
“In WHP Global we have found the right strategic and financial partner for continued global and sustainable growth in the decades to come, while staying true to our distinctive product, dedicated teams and loyal business partners,” said Van Tilburg.
WHP Global, which also owns fashion and accessories brands like Lotto, Bonobos and Anne Klein, as well as retailers Toys “R” Us and Babies “R” Us, also owns a controlling 60 percent stake in the US retailer Express. Including G-Star, WHP Global’s portfolio of brands generates retail sales in excess of US$7 billion. The transaction for the G-Star Raw brand is expected to close in the fourth quarter of 2023. How much WHP Global will take over the brand has not been disclosed.
“G-Star Raw is a strong digital denim fashion brand with an exceptional team that we believe is poised for accelerated growth,” said Yehuda Shmidman, CEO of WHP Global. “We are delighted to be working with Founder Jos van Tilburg and CEO Rob Schilder.”