Knitted accessories label Granny's Finest files for bankruptcy
today Jun 13, 2018
Dutch knitted accessories label Granny’s Finest has filed for bankruptcy.
In addition to offering accessories, the company also operated as a social enterprise, partnering the elderly with young people, who worked together on the design and production of hand-knitted fashion accessories for men, women and newborns. The collection includes hats, scarves, gloves, bags and home products.
According to Dutch newspaper Algemeen Dagblad, the elderly knitters, who volunteered for the label, were informed that the board has filed for bankruptcy. The company told its volunteers that it was no longer feasible to continue the label. Granny’s Finest said that the cost of materials was too high and that it only recorded a turnover during the winter months. Furthermore, the cost of logistics was also too expensive to continue, reported the newspaper.
The Granny's Finest initiative started with 20 elderly volunteers in the city of Rotterdam. The label aimed to combat loneliness among the elderly and provide a platform for young creative talent. According to Algemeen Dagblad, the accessories brand received thousands of euros of subsidy and contributions from funds to launch the brand. The company also won several entrepreneurial awards, mainly because of the social concept behind the label.
Last year, Granny’s Finest operated 46 knitting groups, with a total of about 800 elderly volunteers, who helped expand the brand. As a result, the company was also active in Utrecht, The Hague and Amsterdam. In December 2017, Granny’s Finest opened its first brand store, a 290-square-metre retail space in the city center of Rotterdam. The label is also available at department store chain de Bijenkorf and via its own web shop.
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