New York-based brand management company WHP Global has entered into an agreement to acquire a majority stake in denim brand G-Star RAW.
Financial terms of the transaction have not been disclosed.
As part of the agreement, the current G-Star shareholders, as well as founder Jos van Tilburg, will hold a stake in the brand.
The brand’s wholesale, retail and e-commerce distribution will continue to operate out of the Amsterdam headquarters.
In addition, the G-Star RAW CEO Rob Schilder-led leadership team will also handle the brand’s marketing and product development functions.
WHP Global chairman and CEO Yehuda Shmidman said: “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.”
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The transaction is subject to customary closing conditions including works council procedure and is expected to complete in the fourth quarter of 2023.
Retail sales of WHP Global’s portfolio of brands, including G-Star Raw, produce more than $7bn.
G-Star CEO Rob Schilder said: “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 US and tapping into new geographies as well as new product categories.”