WHP Global which is a global brand management firm, announced last week an agreement with G-Star RAW. It further disclosed in a press statement that the existing G-Star shareholders, including Founder Jos van Tilburg, will retain a stake in the brand.
WHP Global will acquire a majority interest in the G-Star RAW brand for further growth and expansion in the apparel industry the statement adds. The G-Star RAW brand sources apparel worth $70 million annually from Bangladesh of which denim is worth about $20 million.
Industry sources say that brands’ share in the US market might increase from its current share of 5 percent. It is pertinent to note that the US is the largest market for Bangladeshi apparel. The current leadership team of G-Star RAW, led by CEO Rob Schilder, will continue to operate the brand’s marketing and product development functions as well as the wholesale, retail, and e-commerce distribution out of the Amsterdam headquarters.
Founder Jos 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.”
“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,” said WHP Global Chairman and CEO Yehuda Shmidman.
“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,” added Rob Schilder, CEO of G-Star.
Besides G-Star RAW, WHP Global’s portfolio of brands generates over $7 billion in retail sales.
G-Star RAW the global denim brand sells majority shares to WHP Global
