LoveCrafts: An online crafting community and the parent company of marketplaces LoveKnitting and LoveCrochet.
About
LoveCrafts was founded in 2012 by Edward Griffith, Nigel Whiteoak and Cherry Freeman, who met at university and later worked together at the Boston Consulting Group. It combines ecommerce and social networking for the global craft community and ships to over 140 countries.
Our journey with LoveCrafts:
LoveCrafts was one of True's first investments. It offered a digital alternative for a crafting community that traditionally attracted older hobbyists, and was ripe for growth with our support.
LoveCrafts was sold to Highland Capital Partners and Scottish Equity Partners. We exited at a 10x money multiple and a 93% IRR. Edward Griffith remains part of True's most trusted circle and sits on our advisory board.
Brand Facts
Founded in 2012 by Edward Griffith, Nigel Whiteoak and Cherry Freeman, who met at university and worked together at BCG.
LoveCrafts ships to over 140 countries.
True exited at a 10x money multiple and a 93% IRR.
Edward Griffith sits on True's advisory board.
True has realised a 10x return on the first investment the firm ever made, in crafting community platform LoveCrafts.