Knix closes C$53M Series B to expand across North America
Toronto/NYC/Munich, May 18, 2021- After a year of explosive growth, Knix Wear, Inc., a leading direct-to-consumer women’s intimate brand from North America, announced the successful closing of a C$53 million Series B funding today. The round was led by NYC-based private equity firm TZP Group, and participated by existing Knix investor Acton Capital, and alongside new investor, Supermodel and Entrepreneur Ashley Graham. With the new funds, Knix plans to further expand their store fleet across North America this year.
Launched in 2013 by Joanna Griffiths in Toronto, Knix has reinvented the intimate’s category by combining performance, technology, and design to make beautiful and functional products that serve their customers, at every stage of life. While Knix is a pioneer of leakproof underwear, the brand has long since become a player to be reckoned with in the intimate’s category with product innovation that spans across wireless bras, sports bras, swim, lounge, shapewear, maternity as well as their teen brand, “KT by Knix”. Knix sells its products globally through its websites and has store locations in Toronto and Vancouver with plans to further expand their store fleet across North America this year.
“As the founder of Knix, it was important to align our company with partners who are equally dedicated to growing our business while maintaining our commitment to our mission and vision,”
Erin Edwards, Partner at new investor TZP Group, noted, “We believe Knix is an authentic and innovative brand that is disrupting the women’s intimate apparel landscape. As pioneers in inclusivity and body positivity, and with an expanding portfolio of high-quality products, the brand has amassed a large and growing community of engaged and loyal consumers. As a digitally-first brand, Knix is well positioned to seize the opportunity for continued growth, and we are thrilled to be partnering with Joanna and the team.”
Hannes Blum, Venture Partner at Acton Capital in North America, added, “We’re committed to invest in sustainable businesses, ready to scale and built to last.”
Being part of Knix’s and Joanna’s journey since 2019, we’re proud to support not only an excellent business, but also a role model founder for the whole industry.”
Through innovative products and a community-first approach, Knix is on a mission to empower people everywhere to live unapologetically free. Every product, campaign, and image that Knix puts into the world is tied to this mission that has been embedded in the company’s DNA since day one. Since its inception, Knix has been size-inclusive, offering sizes XS-XXXXL and up to a 42G in wireless bras, and has focused on using real customers on its website, adding campaigns, and social media. Founded in 2013, Knix is one of the fastest growing DTC brands in North America and is globally recognized as an innovator and disrupter within the apparel space. A Knix item is sold every six seconds and the brand was recently named Strategy Magazine’s 2020 Brand of the Year while Founder and CEO Joanna Griffiths was named one of “2020’s Most Admired CEOs”.