{"id":160242,"date":"2018-07-23T07:26:56","date_gmt":"2018-07-23T07:26:56","guid":{"rendered":"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/"},"modified":"2021-08-12T13:53:21","modified_gmt":"2021-08-12T13:53:21","slug":"true-acquires-majority-stake-in-ethical-kidswear-brand-frugi","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/","title":{"rendered":"True acquires majority stake in ethical kidswear brand Frugi"},"content":{"rendered":"<p>Private equity house <a href=\"https:\/\/true.global\" target=\"_blank\" rel=\"noopener\">True<\/a> has <strong>acquired a majority stake in ethical baby, kids and maternity brand Frugi<\/strong> and\u00a0former executive board director of Superdry and chief of staff at Marks &amp; Spencer Hugo Adams has joined as CEO.<\/p>\n<p><!--more-->Primarily sold via its\u00a0<a href=\"http:\/\/www.welovefrugi.com\/\">welovefrugi.com<\/a> website, alongside retail partners including <strong>John Lewis, <a href=\"https:\/\/www.zalando.co.uk\/childrens-clothing\/frugi\/\">Zalando<\/a>, Next and independent stores<\/strong>, Frugi was founded in Cornwall by husband and wife team Lucy and Kurt Jewson in 2004 and was received\u00a0the Queen\u2019s Award for Enterprise in 2014.In its manufacturing, Frugi<strong> uses only organic cotton or recycled plastic bottles<\/strong> (it recycles 36 to make one of its winter jackets) and donates 1% of its annual revenue to good causes.<\/p>\n<p>The Jewsons remain shareholders in the business and <strong>Lucy Jewson has been appointed as brand ambassador<\/strong> however the sale will give the couple time to take a step back from the business following Kurt's recent battle with prostate cancer (he is now in remission).<\/p>\n<p>Paul Cocker, True\u2019s co-founder said: \u201cWe invest in businesses, teams and people who forge retail and consumer change. True\u2019s very first investment was pureplay childrenswear e-commerce business, <a href=\"https:\/\/www.alexandalexa.com\/\">Alex&amp;Alexa<\/a>, and we are excited to continue to invest in a sector in which we have already achieved significant success. Lucy and <strong>Frugi\u2019s approach to product integrity, ethics,\u00a0brand loyalty and digital fulfilment reflects what modern shoppers want<\/strong>. Frugi has great potential, allowing us to attract someone of Hugo\u2019s calibre to lead the next phase of growth, alongside Lucy and the team.\u201d<\/p>\n<p>Lucy Jewson added: \u201cFrugi 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 \u2013 as entrepreneurs themselves \u2013 <strong>quickly grasped the opportunities and challenges we face as a rapidly growing business.<\/strong> They\u2019re going to protect and enhance Frugi\u2019s innovative and ethical ethos, while helping us reach more like-minded customers around the world.\u201d<\/p>\n<p>Adams, who has also held senior positions with Dyson and The Body Shop, said Frugi had significant potential of growth in the UK and internationally.\u00a0\u201cLucy and her team have created something very special with Frugi. <strong>For many people, product provenance and corporate ethics are increasingly important<\/strong>; Frugi is part of that awakening, so it\u2019s an exciting time to join. The potential for further growth \u2013 here in the UK and beyond \u2013\u00a0is significant.\u201d<\/p>\n<p>True\u2019s Live Network, including its Startup Innovator and Leading Industry Partner programmes, will help Frugi identify next-generation marketing solutions, products and emerging technologies to accelerate international growth.<i> <\/i>True\u2019s Leading Industry Partners include: <strong>John Lewis, Morrisons, LandSec, Abercrombie &amp; Fitch, TJX and South African and Australian retailer, Woolworths<\/strong>.<\/p>\n<p>Frugi will join the\u00a0other digital-focused businesses within True\u2019s private equity portfolio \u2013 <a href=\"https:\/\/www.ribblecycles.co.uk\/\">Ribble Cycles<\/a> and <a href=\"https:\/\/www.cotswoldco.com\/\">The Cotswold Company<\/a>. The deal was led by <a href=\"https:\/\/www.linkedin.com\/in\/paul-cocker-29bb465a\/\">Paul Cocker<\/a>, <a href=\"https:\/\/www.linkedin.com\/in\/bjrkirby\/\">Ben Kirby<\/a>, and <a href=\"https:\/\/www.linkedin.com\/in\/richard-brick-aa219038\/\">Richard Brick<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":132483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494,12969],"tags":[10822,9816,13308,13309,13310,13311,11455,12991],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>True acquires majority stake in ethical kidswear brand Frugi - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Private equity house True has acquired a majority stake in ethical baby, kids and maternity brand Frugi and\u00a0former executive board director of Superdry\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"True acquires majority stake in ethical kidswear brand Frugi - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Private equity house True has acquired a majority stake in ethical baby, kids and maternity brand Frugi and\u00a0former executive board director of Superdry\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-23T07:26:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-12T13:53:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/Frugi-unicorn-line-flatlay.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lauretta Roberts\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lauretta Roberts\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/\"},\"author\":{\"name\":\"Lauretta Roberts\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89\"},\"headline\":\"True acquires majority stake in ethical kidswear brand Frugi\",\"datePublished\":\"2018-07-23T07:26:56+00:00\",\"dateModified\":\"2021-08-12T13:53:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/true-acquires-majority-stake-in-ethical-kidswear-brand-frugi\/\"},\"wordCount\":491,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Childrenswear\",\"ecommerce\",\"Frugi\",\"Hugo Adams\",\"Lucy Jewson\",\"Paul Cocker\",\"Private Equity\",\"True\"],\"articleSection\":[\"Finance\",\"News &amp; 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