Clothing group moves up a size with acquisition
Two Manchester clothing businesses have become one following a buyout deal.
Fast-fashion wholesale importer and supplier, Whispering Smith, has announced the acquisition, for an undisclosed sum, of the urban fashion brand, Good For Nothing (GFN) as part of its continued brand portfolio expansion.
Now one of the fastest-growing fashion brands in the UK, GFN was created 10 years ago by the then 18-year-old student, Jack McCleish, on a desktop in his bedroom while still living at home with his parents.
Since then, GFN’s annual turnover has grown exponentially to a multimillion-pound recognised global brand and is now sold to hundreds of high street and independent retailers, including ASOS, ZALANDO and JD Sports, along with an army of around half one million loyal social media followers.
Despite the challenges of COVID-19, 2020 saw GFN grow its online sales by up to 100%, with huge growth in womenswear in which it sold more than £300,000 of stock – equating to 10,000 units.
Under the umbrella of Whispering Smith, forecasted sales for 2021 are £500,000.
Such is the demand for its directional, functional designs, the brand intends to roll out new womenswear collections online monthly, increasing its product range by around 100%.
Other plans for 2021 include continued acceleration of its popular outerwear and denim ranges, which are lauded for both high quality and affordability.
Spring 2021 will see the launch of its new cotton jersey lines, and Autumn/Winter21 will introduce knitwear.
GFN managing director, Jack Mcleish, said: “Since day one, our USP has been about ‘affordable luxury’, combining key trends, quality and affordability. I always believed passionately in the potential of GFN, which is why, back in 2016, I turned to Whispering Smith for help with production and distribution.
“That relationship evolved naturally over the years, and in 2019 the decision to merge was a great opportunity to really push the brand further forward.
“Being under the umbrella of Whispering Smith has sky-rocketed GFN from a successful, but relatively niche independent fashion label, to a recognisable, international high street presence.”
He added: “We’ve effectively grown the entire GFN infrastructure, along with our sourcing and distribution network, which has more than doubled since the merger.”
The New Year will see GFN’s fulfilment and warehouse space relocated to Whispering Smith’s 500,000 sq ft warehouse in Manchester, an investment which will significantly reduce overheads and allow it to reinvest into other key areas of the brand to stimulate further growth.
Looking forward to 2021, Mcleish said: “In 2021 we look to scale up our online marketing combined with a larger and faster product offering across menswear and womenswear. Outerwear is a fundamental area for us, and we continue to elevate this category to become the ‘go to’ outerwear brand.
“Expansion is exciting, but we’ll stay true to our roots. We like to be different and we tend to design clothing that some of our competitors may be reluctant to try. We aren’t afraid to take risks and we are often first to trends that have been received well by our online and wholesale audience.”
