Royal Group acquires controlling stake

A controlling stake in Pangaia, the London and New York-based pioneering apparel and materials science company, has been acquired by Abu Dhabi-based investment holding company Royal Group. The group is led by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family.     

It said this “strategic move reinforces Royal Group’s commitment to supporting sustainable, innovative, and high-growth businesses”. It added that it will have a “hands-on approach” in order to “enable Pangaia’s continued evolution, expanding the reach of its science-based solutions and further advancing the global conversation on sustainability”.     

Pangaia is an unusual business in that it’s a “global collective of scientists, designers, and technologists developing essential products from cutting-edge bio-engineered materials and responsibly sourced natural fibres”. In doing this it aims to “solve some of the apparel industry’s most pressing environmental challenges”. 

The operation has always aimed to take a “groundbreaking approach to science-driven innovation, responsible materials, and mission-centric ethos” and now, with the backing of its new parent company we’re told its “financial and operational foundation” will be strengthened, “accelerating the brand’s ambitions in sustainable fashion”.  

Co-founder Miroslava Duma said Pangaia was “founded as a platform for launching and scaling next-generation materials, with the mission of bringing problem-solving innovations to the world. The investment from Royal Group marks a significant milestone of celebrating our fifth anniversary. Their commitment to [our] mission and expertise in driving sustainable growth make them the perfect strategic partner as [the company] embarks on its next chapter”. 

Last summer, the company opened its first UK store on London’s Carnaby Street.