Liberty advises management of Hobbs on the disposal by 3i to TFG London
Hobbs will join Phase Eight and Whistles, also owned by TFG London, creating a truly exceptional portfolio of British brands. Since its launch in London in 1981, Hobbs has built a strong brand identity focused on affordable luxury, offering modern cuts, feminine tailoring and heritage craftsmanship across wear-to-work, smart casual and occasion womenswear. 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 stand-alone stores and a rapidly growing presence in department stores such as Bloomingdale’s as well as in Germany via Wohrl and Sinn.
Ben Barnett, Chief Executive of TFG London, commented: “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.” Meg Lustman, Chief Executive of Hobbs, added: “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.”