The company also owns brands such as Toys “R “us, Bonobos, Anne Klein, Joseph Abboud, Isaac Mizrahi, Lotto, William Rast and Bonobos. The men’s clothing brand Bonobos was acquired by Walmart this year.
The current G-Star shareholders, as well as founder Jos van Tilburg, will continue to hold stakes in the brand. Further, G-Star RAW’s current leadership team, led by CEO Rob Schilder, will operate the brand’s marketing and product development functions, as well as wholesale, retail and e-commerce distribution from its headquarters in Amsterdam, where G- Star Raw was also founded in 1989.
“G-Star RAW is a strong digital denim fashion brand with an exceptional team that we believe is poised for accelerated growth. We are very pleased to be working with founder Jos van Tilburg and CEO Rob Schilder,” said Yehuda Shmidman, Chairman and CEO of WHP Global.
The transaction is expected to close in Q4 2023, subject to customary closing conditions, including the works council process, the company said in a statement.
Financial terms of the transaction will not be disclosed.