{"id":16884,"date":"2022-03-21T21:10:04","date_gmt":"2022-03-21T21:10:04","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=16884"},"modified":"2022-07-23T09:29:13","modified_gmt":"2022-07-23T09:29:13","slug":"the-giving-movement-raises-15-million-in-series-a-investment-round","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/03\/21\/the-giving-movement-raises-15-million-in-series-a-investment-round\/","title":{"rendered":"The Giving Movement raises $15 million in Series A investment round\u00a0"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-contrast=\"auto\">UAE-based fashion brand The Giving Movement has announced the closing of its $15 million Series A funding round from venture capitalist firm Knuru Capital alongside other investors from Europe, the Middle East, Africa and Asia.\u00a0\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The activewear and loungewear brand will use the funds to extend its product range to stock childrenswear and babywear, and to expand into international markets.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The investment comes after The Giving Movement introduced formalwear earlier this year.\u00a0\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cWe 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,\u201d Dominic Nowell-Barnes, founder and chairman of The Giving Movement said.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cEven more so, to have done this from our home in the UAE.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cAs 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.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Founded in early 2020 with the mission \u2018to give back\u2019, The Giving Movement donates AED15 to local charities for each item sold.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">As of December, the brand has donated more than $1 million for Dubai Cares and Harmony House India.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Giving Movement maintains a sustainable supply chain with the manufacturing process running solely in Dubai and using only recyclable and biodegradable materials.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cBy producing the clothes locally in the UAE, we could not only support the local economy but we could ensure the clothes were made ethically under our watch,\u201d Nowell-Barnes told <\/span><i><span data-contrast=\"auto\">Emirates Woman<\/span><\/i><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Alain Dib, co-founder and CEO of Knuru Capital, believes The Giving Movement\u2019s commitment to sustainability will grow and more fashion brands will follow suit.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cWe are most excited to be 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,\u201d he said.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cConsumers care about purpose, about circularity and about 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.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loungewear fashion brand receives Series A funding round. <\/p>\n","protected":false},"author":39,"featured_media":17789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[1091,1118,4029,2127,4028],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16884"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=16884"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16884\/revisions"}],"predecessor-version":[{"id":17181,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16884\/revisions\/17181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17789"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=16884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=16884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=16884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}