Global brand management firm WHP Global announced an agreement to acquire a majority interest in global denim brand G-Star Raw.
As part of the deal, the current G-Star stockholders, including the company’s founder Jos van Tilburg, will keep ownership of the name. The deal’s financial details weren’t made public, but it’s anticipated to close in Q4 2023.
“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 marketing and product development departments as well as the wholesale, retail, and e-commerce distribution of the brand will continue to be run by the G-Star Raw team that is currently in place, under the direction of CEO Rob Schilder. The brand was first established in Amsterdam in 1989, thus they will be based there.
“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,” added Schilder.
With the addition of G-Star Raw, WHP Global’s portfolio of brands now generates retail sales worth over US $ 7 billion. Additionally, it owns names including Anne Klein, Joseph Abboud, Joe Jeans, and others. It also purchased the menswear brand Bonobos, Inc. from Walmart earlier this year, along with the fashion apparel shop Express, in which it has a 60 per cent stake.
