We Are Knitters sells 10% stake to investor group
We are knitters, the Spanish firm specialized in selling knitting kits, yarn balls and patterns, has sold a 10% stake in its capital to a group of investors led by Pablo Fernández, CEO of the online car retailer Clicars.
The brand has thus brought in a series of investors into its shareholding to boost the company's growth.
"The investors have decided to help develop the company and take it to a new level, forming a strong financial base from which to start this climb," explained Fernández's team.
We Are Knitters has been in business for more than a decade and in September of this year opened its first physical store on Fuencarral street in Madrid.
The investors' future plans for the startup include "continuing with the growth strategy that last year led the company to make its first acquisition of Belgian weaving startup Funem Studio."
In addition, they will seek to foster its geographic expansion targeting northern European countries, as well as driving its omnichannel strategy, both in retail and in the multi-brand channel, as they have indicated.
The company was founded in 2011 and its products are currently distributed in more than 15 markets through its online store. In 2021, it reached a turnover of 15 million euros.
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