True has acquired a majority stake in organic children’s clothing brand Frugi.
True will be working with Frugi’s existing management team to support growth.
Hugo Adams, a former executive board director of Superdry and chief of staff at Marks and Spencer, who is now the chief executive said: “Lucy and her team have created something very special with Frugi. For many people, product provenance and corporate ethics are increasingly important; Frugi is part of that awakening, so it’s an exciting time to join. The potential for further growth – here in the UK and beyond – is significant.”
Paul Cocker, True’s co-founder, said: “True’s very first investment was pureplay childrenswear ecommerce business, Alex&Alexa, and we are excited to continue to invest in a sector in which we have already achieved significant success. Frugi has great potential, allowing us to attract someone of Hugo’s calibre to lead the next phase of growth.”
