Home / Knowledge / News / Fashion / Crafted Society raises over €1 mn to support growth plan

Crafted Society raises over €1 mn to support growth plan

27
Feb '20
Pic: Crafted Society
Pic: Crafted Society
Crafted Society, a luxury goods brand whose mission is to use luxury for good, has secured more than €1 million in external capital from a selection of business angels to support its international growth strategy. The founders have solely financed their business from its inception but have now sold just over 25 per cent of the company to fuel future growth.

The new working capital has been earmarked to broaden the brand’s digital presence through their strategic alliance with Mabs4.0, add strategic European and UK Fitting Room locations, increase brand awareness through international pop-up events, roll-out just-in-time inventory management solutions and bring on board new team members.

The brand, which is unique in its approach of transparently platforming all of the Italian artisans involved within their product creation supply chain, was officially launched in 2017 by husband and wife fashion duo, Martin Johnston and Lise Bonnet. Both Martin and Lise have a long and decorated resume of working in fashion, and in 2016 decided to leave the corporate world behind them, to create a luxury fashion brand which championed their own values of transparency, sustainability and social responsibility.

The pair initially launched the sole digital outlet, but decided to open a Fitting Room concept in December 2018 on the Prinsengracht in Amsterdam, after recognising a need to provide customers with an opportunity to experience the full assortment of high quality products in a small yet real life environment.

The pair are already started searching for a Fitting Room location in Johnston's home country of the UK as well as continuing with discussions for an international franchise roll out of their Fitting Room concept.

"Lise and I started this brand with a dream, a good dose of experience and a lot of passion, and it is really rewarding to now share this vision we have for a democratised luxury industry with our new family members. We are delighted to welcome such a diversified and globally connected group of business angels who are all first and foremost, customers and ambassadors of Crafted Society, and their combined expertise will compliment what is already in house to help us scale our business at home and abroad. This investment is a true acknowledgement that we are creating both a unique brand as well as business model which ensures fair remuneration for everyone involved,” said Johnston.

“The support provided by our friends and family has been a crucial factor in maintaining the passion for our dream while simultaneously sacrificing everything we had in order to pursue it. This new investment provides a new lease of energy in our efforts to create a cleaner, friendlier and more honest luxury fashion industry,” said Bonnet.

Crafted Society produces in limited quantities, collections of handcrafted leather sneakers, leather bags, panama hats, cashmere scarves and throws and small leather accessories. The grandmasters receive recognition for their skill and participation in the product creation process by having their name together with that of Crafted Society highlighted on the product.

Through the brand’s mission of using luxury for good they transparently communicate all of the artisans within their supply chain, the Italian suppliers of their sustainable raw materials and they pledge 1 per cent of their global sales back towards global charity partners who share the same passion for providing education to the next generations.

Crafted Society believes in a new luxury industry which is both inclusive and 100 per cent transparent. Radical transparency is a necessity to preserve the lifeblood of true luxury; the artisans themselves. Every Crafted Society product is produced in limited quantities and uniquely handcrafted by experts.

“Our grandmasters as we call them, have invested years in their pursuit of excellence, and it is only right that we put them back into the limelight where they belong. Everything we create is handcrafted from high quality and sustainable raw materials and is completely and transparently sourced 100 per cent in Italy. To ensure exquisite craftsmanship has a chance at survival, luxury has to adopt radically transparent business operations.

“We are the only luxury brand created to highlight and strengthen the reputations of the actual artisans. Luxury fashion has long been kept a secret with the sole purpose of protecting profit margins, to the detriment of the artisans themselves. The fact no other brand was focusing on this approach lit a fire inside of us and provided us with a compelling unique purpose which puts people ahead of profit," Johnston said.

Fibre2Fashion News Desk (PC)


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