New owners for G-Star Raw
Brand management firm WHP Global is adding another denim brand to its portfolio. Following its acquisition of Bonobos in May, it has now reached an agreement to take a majority stake in G-Star Raw. It has not disclosed the financial terms of the transaction.
Existing G-Star shareholders, including founder, Jos van Tilburg, will retain a stake in the brand. Its current leadership team, including chief executive, Rob Schilder, will continue to run its marketing, product development and distribution functions from the brand’s Amsterdam headquarters.
Commenting on the decision to sell a majority stake, Mr van Tilburg said WHP “the right strategic and financial partner for global, sustainable growth in the decades to come”. He said the deal would also allow G-Star to stay true to its products, its teams and its business partners.
Chief executive, Rob Schilder, said G-Star had become “an online first company” and that the investment from WHP Global would help the denim brand strengthen its presence in the US and tap into new geographies and new product categories.
