In surprise news late on Wednesday it emerged that The Foschini Group (TFG), the South African retailer that owns Whistles, Hobbs, Phase Eight and Damsel in a Dress (via its TFG London subsidiary), might soon also own White Stuff.

Sky News reported that the group’s on the verge of adding another big UK name to its portfolio and a deal “could be struck within days”.

But it also said no formal deal has been agreed so far and other parties have also been interested in buying White Stuff.

It’s unclear what the purchase price might be but analyst estimates earlier this year suggested a figure of around £50 million. It’s also unclear whether a deal might be clinched before the possible increase in capital gains tax that’s rumoured to coming in next week’s Autumn Budget.

Whether that’s the case or not, its founders — who own it outright — will be in for a windfall sum. The chain was founded by George Treves and Sean Thomas in 1985 and it’s grown into a premium UK business with over 100 stores and 1,200 employees. 

It’s currently run by former M&S exec Jo Jenkins who’s been at the helm since 2017. She’s overseen it forging partnerships with major retailers such as M&S, John Lewis and Next. It also sells globally with over 500 stockists around the world.

Neither TFG nor White Stuff have commented on the story.