European Commission approves WHP's takeover of Dutch denim brand G-Star

The American investor WHP received the green light from the European Commission to acquire the Dutch jeans brand G-Star. The Commission did not expect the deal to pose any problems for competition in the fashion retail market.

“The Commission concluded that the notified transaction would not raise competition concerns, given the companies' limited market positions resulting from the proposed transaction,” the Commission stated on its website on Wednesday.

G-Star is known for its urban style in denim fashion. Founded in Amsterdam in 1989 by Jos van Tilburg, it has gained a reputation for its distinctive approach to denim, often featuring raw, untreated denim in its designs.

WHP announced in September its intention to acquire a majority stake in G-Star. Founder Jos Van Tilburg will retain a portion of the company's shares. The current management will also continue to lead the fashion brand under WHP's ownership. The financial details of the acquisition were not disclosed.

In recent years, G-Star has increasingly shifted its focus to online clothing sales. Alongside WHP, CEO Rob Schilder aims to accelerate the brand's growth in the international market.

During the Covid-19 crisis, G-Star faced significant challenges. Its Swedish branch filed for bankruptcy in 2020, and the company received payment extensions in the United States and Australia.