G-Star RAW is gearing up for significant expansion on the global stage following a strategic partnership with WHP Global.
The financial terms of the deal were not disclosed. The strategic move comes as part of G-Star's broader transformation into a digital-first company, aligning with the evolving consumer landscape.
It also owns the Anne Klein, Joseph Abboud, Joe's Jeans, Bonobos, Isaac Mizrahi, Lotto, Toys "R" Us, and Babies "R" Us brands.
By partnering with WHP Global, G-Star Raw aims to accelerate its global footprint, particularly in the US, while exploring new territories and product categories.
The agreement, while positioning G-Star RAW for a new phase of development, ensures continuity in the company's leadership and operations. Under the terms of the deal, the existing shareholders of G-Star, including founder Jos van Tilburg, will maintain their stake in the brand.
Meanwhile, the current executive team, spearheaded by CEO Rob Schilder, will continue to oversee critical functions such as marketing, product development, wholesale, retail, and e-commerce distribution from the brand's Amsterdam headquarters.
WHP Global, known for its rapid expansion and management of global brands is now set to play a huge role in G-Star RAW's journey with its portfolio of brands generating over $7bn in retail sales.
van Tilburg said: "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."
Yehuda Shmidman, chairman and CEO of WHP Global added: "G-Star RAW is a strong digital denim fashion brand with an exceptional team that we believe is primed for accelerated growth.”
The transaction is expected to be finalised in the fourth quarter of 2023, pending customary closing conditions, including the works council procedure.
