For years, potential investors told Joanna Griffiths her idea wasn’t bankable because it was “too niche.”of the underwear and apparel brand she founded, Knix Wear Inc., to Swedish hygiene products giant Essity – a deal that– was public confirmation of what Ms. Griffiths had always believed: namely, that period-proof underwear and other products targeted to women’s needs could generate real value. As she looks back on 2022, she’s feeling vindicated.
It’s a message she’s been forced to send before. In the spring of 2021, Knix closed a $53-million funding round just two days before Ms. Griffiths gave birth to twins. During the process, the visibly pregnant founder faced questions about her dedication to the business, including from one potential investor who commented that “no one wants to be the last money in” before the babies arrive, and another who worried that she would “take the money and run.” Ms.
Ms. Griffiths still holds a 20-per-cent stake in Knix and continues to lead the company as president.Knix has expanded quickly in recent years, from $50-million in sales in 2019 to $133.6-million in 2021. For the first nine months of 2022, sales totalled $126-million.