1 People, a Danish leading sustainable fashion brand for women, has announced that it has secured a Series A funding round of $2Millon for the pre-money valuation of $10Million. The funds will be used to scale the company’s sales operations on more markets, with a focus on Germany, USA and UK. In addition, the company plans to further develop its market entrance strategy and add new products to its collections.
The Series A funding round was led by a prominent venture capital firm with participation from several international business angels. 1 People’s CEO, Jonathan Tjoa Algreen, said: “We are very excited to have secured this new funding round. It will allow us to take our fashion brand to the next level and expand our operations into new markets. We believe that there is great potential for our brand in these countries and we look forward to driving growth through a strong marketing and sales push.”
Since their inception in 2020, 1 People already experienced a 704% growth in sales, in 2021 and they show no signs of slowing down. With this new round of funding, they will be able to invest in new sales channels and marketing initiatives to expand their reach even further. Their goal is to achieve a minimum growth of 800% by 2022, and they are well on their way thanks to this latest investment.
What makes 1 People different from other brands is their dedication to the science and technology of fashion; they never compromise on quality. Their goal, through innovation in design with sustainability as pillars–and always keeping customers health first-, ensures that each product released by 1 People will deliver an unparalleled user experience at accessible prices for everyone!
The founders of 1 People – Jonathan Tjoa Algreen (Chief Executive Officer) & Rea Tjoa Algreen (Chief Sustainability Officer)
The company already have warehouse facilities in Los Angeles, and just opened an office in Charleston, USA and the founders will relocate over there in order to better support its growth prospects in that market. Jonathan Tjoa Algreen added: “The USA is an important market for us and we believe that there is great potential for 1 People there. We are looking forward to establishing a presence in Charleston and expanding our operations in the country.”
About 1 People:
1 People is a Danish sustainable luxury brand that designs effortlessly timeless looks for conscious-minded women so that they can stay stylish in an ethical, high-quality fashion. The business model is aligned with a strong customer centric approach. They are People and Planet driven and produce sustainable lifestyle essentials that are safe and comfortable to wear throughout the day. At the same time, they always set a price that is fair for the customers, their artisans, manufacturers and themselves.