Index Ventures and Wellington Partners lead $2.8m investment in Wool and the Gang
Innovative fashion brand to launch The Gang Collection and continue global expansion with secured funds
East-London based fashion brand Wool and the Gang has secured a $2.8m investment led by Index Ventures and Wellington Partners, together with MMC Ventures and other leading tech investors.
The investment will enable the pioneering fashion brand to continue its fast-growth expansion plans, beginning with the launch of new collection The Gang Collection.
Established in 2008 by design graduates Jade Harwood and Aurelie Popper, Wool and the Gang creates luxury hand-crafted or hand-knit fashion items that are available either as ‘ready to wear’ items or as ‘knit kits’ for buyers to create themselves at home.
With a focus on creating sustainable fashion, all items are uniquely sourced and individually crafted, a throwback to home manufacturing.
Launching today, The Gang Collection will be sold via the site’s marketplace and is the latest offering from co-founders Harwood and Popper, who have designed two set handbag styles that can then be individually customised by Wool and the Gang’s global knitting community before being resold.
The investment will also enable the luxury brand to continue to build on its global presence in the UK, Europe and Japan.
Commenting on the site’s future plans, CEO Lisa Rodwell said: “We’re incredibly excited to have such experienced investors backing our quest to build a worldwide movement around sustainable fashion that’s made unique and never from a factory.”
Neil Rimer, co-founder of Index Ventures, added: “Lisa and the team have the vision and ability to build a game-changing fashion business, connecting people all over the globe in a way that has never been done before.
“In a matter of a few years, they have created a powerful brand with influential fans – and that’s down to the imagination and talent of the design team.”