On Tuesday, UK-based equity crowdfunding platform Crowdcube announced the acquisition of its #FundedClub member, Wool and the Gang. The London-based DIY fashion brand was acquired by BlueGem Capital Partners. Crowdcube also reported since 2013 more than 5 million has been returned to investors following the exits of Camden Town Brewery and E-Car Club and the acquisition of Wool and Gang is Crowdcube’s third return in 12 months.
Founded in 2008 by co-founders Aurelie Popper and Jade Harwood, Wood and the Gang is notably on a mission to empower individuals to produce fashion in their homes, eliminating the factory. The brand previously 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 clothes at home including yarn, needles, pattern and finishings, accompanied by online videos and tutorials
Retailers included John Lewis, Harvey Nichols, and Whistles. Wool and the Gang has also received support from model/actress Cara Delevingne, along with accredited investors, Index Ventures and Wellington Partners have contributed funds to the fashion brand. During its Crowdcube round, the company secured £1,013,920 from 492 investors.
BlueGem Capital Partners has previously invested in Liberty London and Mamas & Papas. It is now committed to expanding Wool and the Gang as part of the Crafts Group Holdings, alongside other craft businesses such as embroidery thread brand, DMC. Sharing details about the acquisition, CEO of Wool and the Gang, 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.”
Those who invested will receive their initial investment back plus a 5% return or a Wool and the Gang gift voucher, which would give them a 20% return on their investment.
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