Private equity company True has bought organic children’s clothing maker Frugi, and says that its brand values and brand engagement were a key attraction. It says the Cornish brand, in which it has taken a majority stake, fits with its understanding of what customers now want.
“We invest in businesses, teams and people who forge retail and consumer change,” says Paul Cocker, co-founder of True. “True’s very first investment was pureplay childrenswear ecommerce business Alex&Alexa and we are excited to continue to invest in a sector in which we have already achieved significant success.
Lucy and Frugi’s approach to product integrity, ethics, brand loyalty and digital fulfilment reflects what modern shoppers want.” True is bringing in Hugo Adams as chief executive of Frugi, as it looks towards international expansion.
Adams has previously worked for Dyson,where he led international growth, and at the Body Shop. He was chief of staff at Marks & Spencer and has been on the board at Superdry.
“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,” says Cocker. Adams says: “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. Read more from internetretailing.net…
thumbnail courtesy of internetretailing.net