Vilnius-based startup The Knotty Ones, a sustainable clothing brand deeply rooted in Lithuanian knitting traditions, recently secured a €250,000 investment, primarily from female investors. The startup operates a retail business centered around the creation of artisanal knitwear. This investment will fuel their expansion, particularly in the United States, with a focus on meeting the demands of international customers through wholesale and e-commerce. It also underscores the significance of female investors supporting female-founded businesses and aligns with the brand’s mission of empowering women through sustainable and ethical fashion.
Akvilė, Danutė, and Sandra, a trio of close friends from Lithuania, founded a sustainable fashion brand deeply rooted in Baltic culture and committed to eco-friendly practices. Established in 2014, the brand offers employment opportunities to female artisans in rural Lithuania, granting them flexible work arrangements and economic support for their families. Their dedication to sustainability, local production, and ethical sourcing has driven their success, including collaborations with prominent retailers and endorsements from celebrities.
Drawing inspiration from traditional knitting and Lithuania’s natural beauty and pagan traditions, the brand employs over 70 female artisans, promoting financial independence in regions with limited job opportunities. Their designs are timeless, inspired by Lithuania’s picturesque landscapes and pagan mythology. Sustainability is a key focus, featuring biodegradable materials, cruelty-free yarns, and partnerships with ethical suppliers. Their small-batch production minimizes waste, and they’ve fully offset their carbon footprint, achieving climate neutrality. In essence, they create sustainable, ethically crafted knitwear that honors their heritage and empowers local craftswomen.
Coinvest Capital’s Viktorija Trimbel states, “The new investment is breaking the stereotypes by showing that an all-female team can be investors in other female-founded businesses. Generally speaking, investing is becoming more popular among women, and female investments are often more successful than men’s – 59% of all businesses founded by women are profitable. Women take a longer-term investment perspective and more thoroughly assess potential risks, which is why many women-owned startups are often thriving.”
Meškauskaitė-Dobrajs, one of the founders, states, “Plans are always changing, but you have to know why you are doing it. In fashion, like in any other business, you have to put a lot of effort into knowing your customer, attracting investors and determining exactly how and where you want to grow. Most importantly, you have to be oriented towards your target audience and know where to find it.”
Co-founder Sandra Pangonytė comments, “We are happy to have attracted Lithuanian investors in this round and are planning an international fundraise going forward. Financial and strategic support we received from the female investors we engaged with is a confirmation we’re growing in the right direction – expanding our impact beyond the business. We are happy to have brought together a strong community of women — from knitters to opinion leaders, from the founders of the company to the ever-growing team and loyal customers. We now hope to drive all of us towards success.”
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