Greater than a decade in the past Pepita Marin left her job at audit agency PwC to concentrate on her fledgling on-line knitting retail enterprise.
Known as We Are Knitters, the corporate is now turning over practically 20 million euros ($23.8 million) a 12 months.
Marin co-founded We Are Knitters together with her colleague at PwC, Alberto Bravo. She left her job in auditing after the pair received a ten,000 euro grant for his or her enterprise pitch in a contest for entrepreneurs, run by a college in Spain.
Marin instructed CNBC through electronic mail that she was in a position to depart her company job as a result of she felt the “alternative was actual” with We Are Knitters.
“I knew sometime I (would) be my (personal) boss,” Marin stated, though she admittedly thought she can be older when it occurred, however she felt she wanted to take the chance when it got here.
Marin additionally stated she would “at all times be grateful” for the truth that she as in a position to dwell together with her dad and mom whereas she wasn’t incomes cash and was making an attempt to get the enterprise off the bottom, acknowledging that “not all people can do this.”
However even with the liberty that being a CEO has given her, Marin acknowledged that she would nonetheless at all times be answerable to somebody, whether or not that be an investor, enterprise associate or her staff. On the plus aspect, nevertheless, heading up her personal enterprise has enabled Marin to steadiness her work and personal life “with out asking permission.”
Marin stated that individuals assume that her earlier job in auditing at PwC would don’t have anything to do with beginning a web based knitting retailer. However she stated that the expertise was “tremendous, tremendous helpful to begin up,” by way of managing the monetary aspect of the enterprise and coping with banks.
If Marin needed to give one piece of recommendation to any budding entrepreneurs it could be “do not do it alone as a result of the journey is lengthy.”
“The journey’s not simple and it is extremely good to have somebody (there) to share the successes,” she added.
Marin and Bravo’s thought for We Are Knitters originated on a visit to go to a colleague in New York, after they noticed a “cool, hipster woman on the subway knitting,” she recalled.
Neither of them knew tips on how to knit at time, she stated, so determined to attempt it out of curiosity. Marin stated she discovered it each stress-free and rewarding to create one thing together with her personal palms.
And being a co-founder who would not essentially have an current ardour for the product being bought can really be helpful, she stated, as a result of it permits for a “little little bit of distance” to concentrate on the precise enterprise.
They seen that this development hadn’t but taken off in Europe and so noticed a enterprise alternative to revive a pastime that was nonetheless thought-about “quaint” in Spain.
So that they have been nicely forward of the resurgence that crafts, like knitting, has seen lately and the expansion in recognition amongst youthful folks.
Analysis by U.Ok. charity the Crafts Council, printed in June however primarily carried out previous to the coronavirus pandemic, discovered 73% of England’s inhabitants have been shopping for crafts in 2020, up from 17% in 2006. It additionally discovered the proportion of individuals beneath 35 shopping for crafts had risen to 32% from 17% in that point.
And crafts have seen much more of a increase throughout the pandemic, as folks have been pressured to spend rather more time at dwelling on account of public well being restrictions.
Within the U.S., on-line gross sales for crafts retailer Michaels doubled within the third quarter of 2020, in comparison with the earlier 12 months, and its total gross sales rose 15% year-on-year, to $1.4 billion.
We Are Knitters primarily sells knitting kits and is totally on-line, in contrast to some conventional craft retailers. So it wasn’t pressured to close any bodily outlets when the coronavirus pandemic led to the introduction of public well being restrictions throughout the globe.
The enterprise has really seen “a number of progress” for the reason that onset of the pandemic, Marin stated, with folks discovering it “therapeutic” to spend time on hobbies like knitting throughout lockdown. Certainly, We Are Knitters noticed gross sales improve over 300% within the U.Ok. alone in 2020, in comparison with the earlier 12 months.
Marin stated the enterprise has even seen progress in Spain, the place the corporate relies however hadn’t beforehand been one in every of its large markets, given that individuals spend much less time inside because of the hotter climate. However Spain had one in every of Europe’s strictest lockdowns, evidentially prompting extra folks to take up “indoor” hobbies, like knitting.