Yet another industry update! Last Monday we placed this big restock order, which includes a ton of special orders for all of you as well as a complete restock of the heavy merino. On Tuesday, we received an email from the KFO team announcing that they sold the company to a large venture capital or private equity firm.
As a small business owner, I respect the decision of any business owner who finds and executes an exit strategy. This industry is not easy and owning a small business is incredibly stressful. I completely respect their decision and congratulate them on doing what they needed for themselves and for the business they built and love.
However, as a small, independently owned shop, one of the most impactful things I can do is support businesses whose ownership, missions, values, etc., align with our own. As you have seen in the past, when family-owned operations have sold to larger holding companies, we have ceased working with them. This is why you will no longer see Berroco in the shop, for example. Since there are so many independently owned yarn companies, we are going to pivot. This will be our last delivery from Knitting for Olive, unfortunately. This was not an easy decision. Thank you for giving us a few days to collect ourselves and sort out what to do. We considered refusing this last delivery upon arrival, but felt that you all might want one more delivery of the yarn made by the original all-female ownership. It will be processed in the next couple of days and be in our online capsule collection as well as in our store, of course. Continued in comments.
