Hobbs

Hobbs is a British women's fashion brand founded in 1981 that was acquired in 2017 by South Africa's TFG, formerly The Foschini Group, from private equity firm 3i.

What is Hobbs?

Hobbs is a British womenswear retailer selling dresses, tailoring, knitwear and accessories for work and occasions, positioned in the premium segment of the UK high street.

History

The Industry Fashion reports that Hobbs was founded in 1981. Private equity firm 3i had owned the business, reportedly buying it for £111 million about ten years before 2017, and put it up for sale that year, with rumours of the sale process starting in January 2017. 3i reportedly sought around £80 million.

Ownership

On 7 November 2017 the Foschini Group (now TFG), which already owned Phase Eight and Whistles, agreed to acquire Hobbs for an undisclosed sum. Hobbs was the third UK chain it bought, after Phase Eight and Whistles. TFG said the deal would strengthen its position as an international fashion retailer and enhance its online presence. We have not found a report of any later change of ownership.

Business model and distribution

At the time of the acquisition, Just Style reported 140 outlets in the UK, made up of standalone stores and concessions, plus stockists such as Bloomingdale's in the US and Wöhrl and SinnLeffers in Germany. It also reported online sales in 49 countries. These figures are from 2017 and are not current.

Why it matters

Hobbs completed a three-brand British womenswear portfolio at TFG, placing it with Phase Eight and Whistles, and is an example of how private equity exits of UK premium brands have led to ownership by international retail groups.

Frequently asked questions

Who owns Hobbs?

Hobbs was acquired in 2017 by the Foschini Group, now known as TFG, which also owns Phase Eight and Whistles. We have not found a report of a later change.

When was Hobbs founded?

The Industry Fashion reports that Hobbs was founded in 1981 in the United Kingdom.

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