33 Joints is acquired by investment firm Kolektive Ventures
UK fashion footwear distributor 33 Joints has been acquired by investment company Kolektive Ventures for an undisclosed sum.
The investment firm, which trades under the name Projekt Indigo in the UK, will aim to boost the business in two areas: scaling up growth in the UK and internationally (particularly in Germany, Scandinavia and India), and help build brand awareness, areas where it has significant influence.
The 16-year-old business’s current portfolio of brands includes licenses for Osprey London, Original Penguin, Lambretta and JCB, as well as distribution rights for Scholl and Nasa.
33 Joints co-founder and managing director Anthony Nathan will continue in his role and maintain a shareholding as the business continues to build brands and customer numbers. Fellow co-founder and father Malcolm Nathan will continue to be a consultant under the new structure.
Anthony said: "This presents us with a wonderful opportunity to continue to build our business in the UK, to expand our brand portfolio and to establish a European base."
Bharat Bhushun, Kolektive Ventures managing director, added: "Malcolm and Antony have built a truly formidable business and a very strong team. The business retains its independence, agility and a culture that continues to attract some of the best brands in the market.”
Projekt Indigo, which has a physical footprint in five countries, also said it “is looking to expand its brand portfolio in the next two years”.
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