Refined Brands acquires Celtic & Co.
Ethical fashion group announces acquisition of first portfolio brand
Refined Brands is delighted to announce the acquisition of Celtic & Co, the pioneering, digitally native, retailer of ethically sourced, natural and sustainable knitwear, footwear and outerwear.
In the context of a world in significant flux, Celtic & Co’s core principles have increasingly resonated, significantly building their customer base in the UK and Internationally. In the year ended 31 January 2021, the brand achieved sales growth of +77% to reach £16.0 million, of which almost 30% from customers based outside the United Kingdom.
In order to support the continued growth of the Celtic & Co. brand, we are delighted to announce the appointment of James Williams as Managing Director. James has a decade of digital ‘direct to consumer’ experience with mainstream brands including Jigsaw and Phase Eight and will join Celtic & Co. at the end of May 2021 from the ethical and organic children’s clothing brand Frugi.
He will be joined on the board by Ben Barnett, as well as Nick Whitworth & Kathryn Whitworth (co-founders of Celtic & Co), Scott Mackenzie (Souter Investments), Helgi Bergs (Kvika Bank) and retail veteran Lee Harlow.
Ben Barnett, Chair for Refined Brands, commented:
“The creation of Refined Brands was motivated by a desire to build a differentiated family of sustainable fashion brands, alongside founders and teams that shared our passion and vision. Celtic & Co. are pioneers in ethically sourced, natural and sustainable clothing and accessories and will form the cornerstone of our new group. I am delighted that Nick and Kathryn, founders of Celtic & Co, have committed to this shared vision and will be joining us on this journey.”
Nick Whitworth & Kathryn Whitworth, Co-Founders of Celtic & Co, said:
“During 2020 it has been wonderful to welcome new customers to the Celtic brand. Together we are rejecting the principles of fast fashion and advocating a more thoughtful and sustainable approach to clothing. Sustainable, natural materials designed into garments that last, with respect for human rights, fair pay and fair trade at their forefront.”
James Williams, incoming Managing Director of Celtic & Co, added:
“I am thrilled to be joining Celtic & Co. at this pivotal point in their journey. The brand has seen a sales acceleration in recent years as the movement the brand has pioneered towards natural, sustainable clothing has increasingly developed into the mainstream. I am excited to work with the brand’s founders and senior leadership team to further develop this iconic brand.”
About Refined Brands
Refined Brands is seeking to build the leading digitally native portfolio of ethically sourced, natural and sustainable British brands. The group was founded in February 2021 by a group of committed retailers including Ben Barnett, former CEO of TFG London (owner of the Phase Eight, Whistles and Hobbs brands) and retail veteran Michael Rahamim. The group is funded by the team, in partnership with HSBC, Kvika Bank and Souter Investments, the family investment office of Stagecoach co-founder, Sir Brian Souter.
About Celtic & Co.
Founded by Nick and Kath Whitworth in 1990, and headquartered in Cornwall, Celtic & Co. is a pioneering, digitally native retailer of ethically sourced, natural sustainable knitwear, footwear and outerwear. The brand continues to stay true to its heritage, with in-house manufacturing of its sheepskin boots and slippers continuing to take place in Newquay, Cornwall.
