UK fashion footwear distributor 33 Joints has recently been acquired by investment company Kolektive Ventures, also known as Projekt Indigo in the UK. The specific details and amount of the acquisition have not been disclosed. Kolektive Ventures has outlined two main areas of focus to enhance the business – expanding growth within the UK and internationally, with particular attention on Germany, Scandinavia, and India, and increasing brand awareness.
33 Joints, which was founded 16 years ago, has built a strong portfolio of brands that includes licenses for popular names like Osprey London, Original Penguin, Lambretta, and JCB. They also hold distribution rights for well-known brands Scholl and Nasa.
Anthony Nathan, co-founder and managing director of 33 Joints, will remain in his position and retain a shareholding as the company continues to grow its brands and customer base. Malcolm Nathan, co-founder and father of Anthony, will serve as a consultant under the new ownership structure.
Anthony expressed his enthusiasm about the acquisition, stating that it provides a fantastic opportunity to expand the business in the UK, add to their brand portfolio, and establish a European base.
Bharat Bhushun, managing director of Kolektive Ventures, praised the achievements of 33 Joints, commending Malcolm and Anthony for creating a formidable business with a strong team. He highlighted that 33 Joints will retain its independence, agility, and an attractive culture that continues to attract top brands in the market.
Projekt Indigo, already present in five countries, has plans to further expand its brand portfolio in the next two years. This acquisition serves as an exciting new chapter for 33 Joints as they join forces with Kolektive Ventures to fuel their growth and strengthen their position in the fashion distribution industry.
Useful links:
– 33 Joints Official Website
– Kolektive Ventures Official Website
