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The Foschini Group (TFG), which owns fashion retailers Whistles and Phase Eight, is reportedly in “advanced” talks to acquire high street clothing retailer White Stuff, according to Sky News.
Once acquired, Foschini aims to invest in the future expansion of White Stuff, Sky reported.
While it is understood that a deal could be struck within days, a formal agreement has yet to be reached, with the price under discussion yet to be disclosed.
White Stuff has also had a number of other parties pursuing it in recent months.
South Africa-based Foschini also has a British subsidiary – TFG London – which also owns Hobbs and Damsel in a Dress.
White Stuff founders, George Treves and Sean Thomas, founded the retailer in 1985. It now has a portfolio of more than 100 stores, employs over 1,200 people and boasts more than 500 stockists around the world.
The high street group also has partnerships with other household names including M&S, John Lewis and Next.
TFG and White Stuff have been approached for comments.
