Whispering Smith Acquires Good For Nothing
December, 6, 2020— Manchester-based wholesale importer and supplier, Whispering Smith, has acquired urban fashion brand, Good For Nothing, for an undisclosed sum.
Whispering Smith announced that the acquisition is part of its continued brand portfolio expansion and has plans to grow Good For Nothing through expanding its womenswear. Despite the challenges of Covid-19, its womenswear has seen “huge growth,” selling more than 300,000 pounds of stock.
Other plans for 2021 includes the continued acceleration of its outerwear and denim ranges, launching new cotton jersey lines for spring 2021 and knitwear for autumn/winter 2021.
Commenting on its rapid growth and merger, Good For Nothing managing director, 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.
“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 Good For Nothing from a successful, but relatively niche independent fashion label, to a recognisable, international high street presence.”
Manchester-based fast-fashion wholesale importer and supplier Whispering Smith acquires Good For Nothing clothing brand
As part of the deal, Good For Nothing will also relocate its fulfilment and warehouse space to Whispering Smith’s 500,000 square foot warehouse in Manchester. This will help “significantly reduce overheads and allow it to reinvest into other key areas of the brand to stimulate further growth,” added Whispering Smith.
McCleish, added: “We’ve effectively grown the entire Good For Nothing infrastructure, along with our sourcing and distribution network, which has more than doubled since the merger.”
Under the umbrella of Whispering Smith, forecasted sales for Good For Nothing in 2021 are 500,000 pounds, explained the fast-fashion wholesale importer and supplier.
Looking ahead to 2021, McCleish, 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 will 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.”
Good For Nothing was launched in 2010 by then 18-year old student McCleish. It has grown into a recognised global brand and counts Asos, Zalando and JD Sports amongst its stockists.
Whispering Smith owns and distributes fashion brand Brave Soul, as well as supplying white label clothing to the high street and e-commerce brands across the globe. In December 2020, it sold close to 1.5 million units of womenswear, up 41 percent from last year, whilst menswear saw a 27 percent increase.
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Source- FashionUnited
