Knix Raises $53M, Will Add 2 California Stores

Canada based Knix Wear has just raised $53 million in investment funding, according to published reports, and is opening two retail shops in California to join shops already open in Toronto and Vancouver.

TZP Group, a New York private equity firm which led the series B funding round, said it was joined by “existing Knix investors, including Acton Capital, and alongside new investor, supermodel and entrepreneur Ashley Graham.” With the latest funding Knix has now raised just over $60 million.

According to TZP the funding will be used to “support product development and accelerated growth,” including “plans to further expand their store fleet across North America this year.” The Knix website notes that the California shops are “coming soon” to 2929 Main Street, Santa Monica and 4545 La Jolla Village Drive, San Diego. The Canadian shops were opened in the fall of 2019.

Launched in 2013 by Joanna Griffiths, Knix is described by TZP as “a pioneer of leak proof underwear,” including period underwear, but now offers a range of products “that spans across wireless bras, sports bras, swim, lounge, shapewear, maternity as well as their teen brand, KT by Knix.” The company stated in the latest release that “since its inception” it has been “size-inclusive,” currently “offering sizes XS-XXXXL and up to a 42G in wireless bras.” Knix asserted it is “one of the fastest growing DTC brands in North America,” and that “a Knix item is sold every six seconds.” — NM