The Giving Movement, sustainable fashion e-retailer, raises $15m in Series A funding

The Giving Movement, sustainable fashion e-retailer, raises $15m in Series A funding 

By: Abu Dhabi SME Hub
News

The Series A round was led by Knuru Capital, with the participation of other investors across the EMEA and Asian region.

UAE-based online sustainable fashion retailer The Giving Movement has successfully raised $15m in its latest funding round. The Series A round was led by Knuru Capital with the participation of other investors across the EMEA and Asian region.

Founded in early 2020 by Dominic Nowell-Barnes, with an initial investment from UAE-based entrepreneurs Lucy & Gaurav Sinha, the Online Fashion retailer has been experiencing remarkable growth. With the apparel sector seeing accelerated demand in the athleisure and loungewear segments during the pandemic, The Giving Movement has set forth to capitalize on the $50bn fashion market in the UAE with a progressive mindful perspective. The company’s core advantage is the combination of a “give-back” brand ethos, an authentic sustainable supply chain, and a 100% UAE manufacturing focus, which has seen it capture a significant share in the GCC apparel sector to become a leading fashion brand emerging from the UAE in recent years. 

The UAE-based fashion e-retailer has grown exceptionally in a short period of time with a business model purpose-built for Generation-Z lifestyle values, addressing the challenge of sustainable fast fashion.

In light of this recent fundraise, Dominic Nowell-Barnes, Founder & Chairman at The Giving Movement commented, “We are proud to be partnering with such value-add investors and to have built a brand in over two years on such an authentic consumer promise. Even more so, to have done this from our home in the UAE. As we expand into new categories and into new markets, quality capital will allow us to remain true to our purpose and to take our ethos global, while continuing to serve our loyalists and community stakeholders.”

The company has already expanded into formal wear in 2022 and has recently partnered with the Museum of the Future at its February launch. The UAE-based fashion e-retailer will utilize its newly acquired funds to further its category growth to include children’s and the recently-announced baby wear lines as it eyes expansion into new markets. Alain Dib, co-founder and CEO at Knuru Capital concluded, “We are most excited to the part of the next phase of this great journey. The Giving Movement represents the best of what we see as this next,  permanent wave in fashion. Consumers care about purpose, circularity, and the environmental impact of what they wear. Dominic and his team combine a very strong business performance with a deeply-rooted stance on community and human values in equal measure”.  

You might also like