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Published
Jul 23, 2018
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Children's brand Frugi sold to private equity firm

Published
Jul 23, 2018

True, a private equity firm, has acquired a majority stake in ethical children’s fashion brand Frugi and appointed Hugo Adams, former executive board director of Superdry and chief of staff at M&S as new CEO.


Frugi


The brand’s founders Kurt and Lucy Jewson will step back following the acquisition, it was announced on Monday, but will continue to work with True to support Frugi’s ongoing scalable growth.

The Cornish brand designs, manufactures and sells sustainably-sourced organic cotton clothing and accessories for babies, children and now mothers. The ethical focus has earned it a cult following, leading to a Queen’s Award for Enterprise in 2014. To make its clothing, the brand uses only organic cotton or recycled plastic bottles, and gives 1% of its annual revenue to good causes.

“Lucy and her team have created something very special with Frugi,” said Hugo Adams, new chief executive. “For many people, product provenance and corporate ethics are increasingly important; Frugi is part of that awakening, so it’s an exciting time to join. The potential for further growth – here in the UK and beyond – is significant.”

Lucy Jewson, Frugi co-founder, added: “Frugi is built on strong ethical values, so it was important to find an investor that respects this, but also has the experience to help support our future growth, particularly digitally. Paul and the True team – as entrepreneurs themselves – quickly grasped the opportunities and challenges we face as a rapidly growing business. They’re going to protect and enhance Frugi’s innovative and ethical ethos, while helping us reach more like-minded customers around the world.”

This is the second investment in the childrenswear market for True, which also owns e-commerce kids’ brand Alex&Alexa.

Paul Cocker, True co-founder, commented: “Lucy and Frugi’s approach to product integrity, ethics, brand loyalty and digital fulfilment reflects what modern shoppers want. Frugi has great potential, allowing us to attract someone of Hugo’s calibre to lead the next phase of growth, alongside Lucy and the team.”

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