Fashion Knitting Brand Wool and the Gang Captures Nearly £420,000 in Three Days on Crowdcube

Wool and the Gang 5

Last week, Hackney-based fashion brand Wool and the Gang took to equity crowdfunding platform Crowdcube with a mission to raise £750,000 to continue expansion into the U.S. Market.

Wool and the Gang 7Wool and the Gang, which was founded in 2008 by co-founders Aurelie Popper and Jade Harwood, is noted to empower individuals to produce fashion in their homes, eliminating the factory. The brand shared:

“Our community knits and crochets our beautiful range of products, suitable for all the family – from fantastic beanie hats to kid’s blankets to chic knitted clutch bags – in their homes for themselves to wear or to be sold on the Wool and the Gang website.”

Every design in Wool and the Gang’s collection can be purchased in two ways:

  • Ready to Wear: Made by the Gang: handcrafted by our community of fashion makers in their homes
  • Knit/Crochet Kits: Made by You: all-in-one, easy-to-make kit with everything you need to make your own clothes at home including yarn, needles, pattern and finishings, accompanied by online videos and tutorials

Explaining how its manufacturing process works, the company revealed:

Wool and the Gang 4“Wool and the Gang has an innovative production model and an inventory (balls of wool) that can be used across a range of products. We are able to design and make fashion in as little as 2-4 weeks, thereby never missing a trend or opportunity. This compares to a traditional model that takes 6-12 months. And not only that, but it is made in the home not a factory. It makes Wool and the Gang super-agile, and able to respond to an incredibly fast-moving industry in a scalable way.

 

“The worldwide online fashion market is worth more than £90 billion. With an aim to build a massive worldwide fashion brand which extends beyond knitwear to other made-in-the home fashion categories, Wool and the Gang’s opportunity increases with every new category and material introduced eg crochet, jewelry-making, sewing… In each case we plan to make the new category accessible through our design philosophy, easy-to-follow kits and sustainable sourcing approach. With a committed customer base, our brand can expand beyond knitwear – as we have shown with the recent introduction in May of crochet, which already represents 13% of kit sales since launch.”

Wool and the Gang 3Retailers included John Lewis, Harvey Nichols and Whistles. Wool and the Gang has also received support from model/actress Cara  . Along with accredited investors, Index Ventures and Wellington Partners have contributed funds to the fashion brand.

Since its launch, the campaign has successfully raised over half the initial goal. It is set to close at the beginning of October.

 

 


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