Manchester-based Whispering Smith buys Good For Nothing
Fast-fashion wholesaler Whispering Smith has acquired fellow Manchester-based urban fashion brand Good For Nothing (GFN) for an undisclosed sum.
Whispering Smith said the acquisition of the fast-growing GFN brand is part of its continued portfolio expansion and plans to grow its latest addition via its womenswear offer.
It said the brand’s womenswear has seen “huge growth” with sales of £300,000+ last year, despite Covid-19. Online sales also lifted 100%, with major growth in womenswear. Asos, Zalando and JD Sports are among its stockists.
Other plans for this year include growth in outerwear and denim ranges, new cotton jersey launches for spring and knitwear for autumn/winter. Meanwhile, Good For Nothing sales are forecast to reach £500,000, the new owner said.
GFN will now relocate its fulfilment and warehouse space to Whispering Smith’s facilities in Manchester. This will help “significantly reduce overheads and allow it to reinvest into other key areas of the brand to stimulate further growth”, said Whispering Smith.
Good For Nothing founder and MD, Jack McCleish, said in a statement: “Since day one, our USP has been about ‘affordable luxury,’ combining key trends, quality and affordability. I always believed passionately in the potential of Good For Nothing, which is why back in 2016, I turned to Whispering Smith for help with production and distribution”.
He added that 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 Good For Nothing from a successful, but relatively niche independent fashion label, to a recognisable, international high street presence”.
McCleish also 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".
Whispering Smith also owns and distributes the Brave Soul brand, as well as being a 'white-label' supplier for UK and international retailers. Its sales have been rising fast.
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