The brand achieved sales in the year ended January 2017 of £120 million and currently has over 140 outlets across stores and concessions in the UK. Hobbs also sells online to customers in 49 countries, and to the USA via standalone stores and a rapidly growing presence in department stores such as Bloomingdale’s as well as in Germany via Wohrl and SinnLeffers. Hobbs will join Phase Eight and Whistles in creating a portfolio of British brands within TFG.
“Hobbs is a well-established British brand with a loyal customer base and an excellent reputation for the design and retail of high quality clothing and footwear. I am excited about bringing both the brand and the management team into TFG’s portfolio of brands and delighted with our continued growth in the United Kingdom,” comments chief executive of TFG Doug Murray.
Ben Barnett, chief executive of TFG London, agrees that “Hobbs is a strong British brand with rich design heritage. Meg Lustman and her team have successfully repositioned and reinvigorated the brand, offering an excellent platform for further growth. We share their ambitions, not only in terms of maximising the success of their well-established UK presence, but also in their strategic approach towards leveraging the international appeal of the brand, via their physical store portfolio, carefully aligned concession partners and evolving e-commerce proposition.”
Lustman, chief executive of Hobbs, says “this acquisition by TFG represents a further step on our journey to develop a truly successful international and omni-channel Hobbs brand. With TFG’s existing experience managing desirable brands, and their deep understanding of the sector, we are thrilled with today’s announcement and their commitment to assist us to drive our future growth. I very much look forward to working with the TFG team in London to achieve further success for the Hobbs brand.”
