NEW YORK--(BUSINESS WIRE)--Pattern, a family of brands with the shared mission of enjoying daily life, announced today that it has raised $60 million of debt and equity capital. The capital will be used to accelerate the business to its next phase and acquire a select number of direct-to-consumer (DTC) businesses with healthy and sustainable margins, a loyal customer base, and a focus on home-centric goods that are thoughtfully-made and design-forward. The financing included participation from existing investors Kleiner Perkins, RRE Ventures and Primary Venture Partners, as well as participation from new investors Victory Park Capital, HOF Capital and RSE Ventures.
“We’re proud to partner with Pattern as they continue to build sustainable and profitable brands that matter. Nick, Suze and Emmett’s unique experience shaping DTC brands during their time at Gin Lane will help Pattern accelerate the growth of the businesses they acquire by building a broader community of customers across their family of brands,” said Don Richman, Principal at Victory Park Capital.
Pattern also announced that its first acquisition is GIR (“Get It Right”), a kitchen accessories brand that launched in 2012 and has grown into a much-loved, profitable, multi-million-dollar business with a line of over fifty products changing the cooking world. As of today, GIR will join Pattern’s other brands, Open Spaces and Equal Parts, on newly relaunched PatternBrands.com, the company’s centralized, curated shopping destination that makes it easier for consumers to shop across a growing category of home goods products with a set of shared values.
“The idea of ‘getting it right’ informed every choice in building our business—from product to operations and HR to customer experience. Working with the team at Pattern, we saw our own relentless drive mirrored back to us—the enthusiasm, the desire for a challenge, and the deep satisfaction of repeatedly delighting customers year after year. We bonded immediately over a shared appreciation for excellent design, and as we talked about our vision for the company, it became clear we had found kindred spirits,” said Samantha Rose, Founder and CEO at GIR.
The team behind Pattern was formerly Gin Lane, a creative agency known for building DTC brands and digital experiences for over a decade across industries including fashion, beauty, food, personal health and telemedicine. The team helped create over $15 billion worth of market share and made experiences that reached hundreds of millions of consumers. They also witnessed firsthand the challenges entrepreneurs faced over the years in launching DTC brands into an increasingly competitive market, including having to become experts in everything from fulfillment and logistics to supply chain and customer service, as well as creating unique customer experiences, accessing and using proprietary data, and navigating the ever-increasing cost of customer acquisition and retention.
“From our shoppers, we kept hearing a desire to shop more home-goods products that shared our values, in one place. From our community of DTC business owners around the country, we saw that the growth-at-all-costs business model for technology startups can’t be applied in the same way to e-commerce businesses. Our acquisition of GIR is the first step in fulfilling our mission to reimagine what a successful exit looks like for DTC brands and we look forward to bringing more businesses onboard in 2021 and beyond,” said Suze Dowling, Co-Founder and Chief Business Officer at Pattern.
If you’re building a DTC brand focused on home-centric goods and you’re interested in learning more about your business joining Pattern’s family of brands, visit our website to learn more.
Headquartered in New York City, Pattern is a family of brands with the shared mission of enjoying daily life. Since its launch in 2019, Pattern has developed and brought to market two thoughtfully-made and design-forward home-centric brands: OpenSpaces (organization essentials) and EqualParts (cookware), and in 2021 acquired GIR (a successful line of kitchen accessories). The team behind Pattern formerly founded Gin Lane, a creative agency that for over a decade built dozens of direct-to-consumer brands and digital experiences across industries including fashion, beauty, food, personal health, and telemedicine. Pattern’s investors include Victory Park Capital, HOF Capital, RSE Ventures, Kleiner Perkins, RRE Ventures and Primary Venture Partners. To learn more, follow Pattern on TikTok, Instagram and Twitter, or visit patternbrands.com.