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NEW YORK — September 26, 2022 — After announcing their acquisition by global health and hygiene brand, Essity, in early July, Knix is proud to share that the deal has officially closed, valuing Knix at $400M USD and marking one of the largest publicly disclosed private sales of a DTC company by a female founder. The closing comes following Knix surpassing the 2 million customer mark. Knix Founder and CEO, Joanna Griffiths will stay on as President of Knix and continue to lead the brand under its new partnership with Essity.
Founded in 2013 with a mission to redefine intimates, Knix has been a pioneer in leakproof underwear and apparel and has helped create and grow the category while breaking barriers for all people to live unapologetically free. Griffiths took a set of problems, experienced by half of the global population, and turned to innovation and design to find a solution that has truly started a movement towards alternative, fashionable and sustainable options for leaks.
Having faced adversity along the journey to normalize leaking and end stigma, including being told in the early days that leakproof underwear was a “niche” idea, Griffiths has made major strides in changing the face of the intimates industry. In 2020 Knix was the first brand to feature an entire campaign of women over 50 and in 2013 to showcase their products in all available sizes and to use only customers in their advertising. Knix has also fought for representation in body diversity, paving the way for a needed shift towards inclusivity in the intimates category. Griffiths has also been a champion for female entrepreneurship, stressing the importance of supporting female founded businesses and being vocal about the gendered language and stereotypes that exist around women in business today. In 2021 Griffiths made headlines when she closed their Series B financing just three days before giving birth to twins, eliminating any investors from the process who questioned her ability to run a business and be a mother. The brand went on to achieve 97% Y-O-Y growth that year.
Knix is extremely proud of the strategic partnership with Essity which makes them the global leader within leakproof apparel, the fastest growing product segment in Intimate Hygiene which includes Menstrual Care and Incontinence Products. Essity has acquired 80% of the shares in Knix for $320 million USD. Founder and President, Joanna Griffiths, holds the remaining 20% share.
Posted: September 26, 2022
Source: Knix
