Wool and the Gang has now been acquired by BlueGem Capital Partners, also home to Liberty London and Mamas & Papas. This is the first exit for the MMC London Fund portfolio and at Funding London we are excited to see the company set to scale to great heights with new partners. Sharing details about the acquisition, CEO, Lisa Rodwell, stated:
“We are thrilled to have found a partner in BlueGem and look forward to being part of the Crafts Group Holding, which will enable us to continue our brand mission to innovate in the craft world. The new structure will allow us to grow as a business and launch new innovative yarns, designs, and new exciting collaborations while also working alongside the world famous heritage brand – DMC.”
During the years, we have seen the company successfully bring to life their vision to disrupt the traditional methods of manufacturing and buying knitwear. MMC London Fund was introduced to the Wool & the Gang team in the spring of 2013 as the team was embarking on a fund-raising journey to support their vision. The funding was used mainly to grow the team and to develop the website & sales platform.
The DIY fashion and knitting brand was founded in 2008 by Jade Harwood and Aurelie Popper, graduates from Central St Martin’s School of Design. With a store in New York City and an online presence, it had built a following of style conscious women who wanted to knit and wear fashionable patterns. At the time, the founders were sourcing raw materials from Peru supporting sustainably produced raw materials. In addition, a community of Peruvian women was and continues to be engaged in knitting products.
As the brand’s popularity grew, they realized the need to scale-up their operations. Determined to bypass the old factory-based production model, the founders replaced it with the Gang of knitters and migrated its sales entirely online.
In order to build the Gang of knitters the founders went as far as teaching the brand’s followers how to knit (and continue to do so through the Wool School video tutorials). The Gang continues to grow worldwide with knitters now based in Peru, US, France, Poland, Switzerland and The Netherlands.