WHP Global, a brand management company, has completed the acquisition of the Netherlands-based clothing and fashion brand G-Star RAW.

This acquisition marks a significant step in WHP Global’s expansion into the European market, with plans to open a new office in Amsterdam.

The deal completion comes a few months after WHP Global initially signed an agreement to acquire a majority stake in G-Star RAW.

As per the terms of the transaction, the sellers will retain a minority stake in G-Star RAW.

The current G-Star RAW team, which is led by CEO Rob Schilder, will continue to operate the brand’s core omni-channel operations from G-Star RAW’s headquarters in Amsterdam.

While the financial terms of the transaction have not been disclosed, this acquisition is the third for WHP Global in 2023.

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The WHP Global’s portfolio now includes more than ten consumer brands, generating over $7bn in global retail sales.

In a separate development, WHP Global, which also owns the Lotto brand, has signed a long-term license agreement with Norderstedt-based Fashioncenter, a subsidiary of the Schmidt Group.

This partnership will further expand Lotto’s existing presence in Central Europe in the lifestyle and fashion sector.

Fashioncenter, recently entrusted with the Kappa brand licence for 25 years, will now take over the product development and distribution of Lotto’s lifestyle footwear and sports fashion apparel in Germany and Poland.

Fashioncenter will collaborate closely with Lotto Sport Italia (LSI), which operates the core performance categories for the Lotto brand in Europe and other key markets.

It will offer apparel and footwear collections under the name “Lotto Life’s”, combining lifestyle and active segments that will offer retailers a wide variety of products for sport and leisure.

The new Lotto lifestyle collections are expected to be presented in summer 2024 and will be available across the stores starting from fall/winter next year.