Joanna Griffiths is exiting Knix Wear Inc. after selling her remaining 20% [1] stake in the company.
The departure marks the final transition of ownership for the Canadian e-commerce startup, which disrupted the apparel industry with leakproof clothing. Griffiths' exit concludes a multi-year handover process following the company's acquisition by Essity.
Griffiths is stepping away as president on Aug. 1 [1]. This move follows a previous transaction where she sold a majority stake to the Swedish company Essity. At that time, the majority stake sold was 80% [2].
The exit comes after a decade of growth for the brand. Early in the company's development, Griffiths faced skepticism from the financial community. For years, potential investors told Griffiths her idea was not bankable because it was "too niche," she said [3].
Despite those early challenges, the founder scaled the business into a recognized leader in the functional apparel space. The transition to Essity allows the Swedish firm to fully integrate the Canadian brand into its global portfolio.
Griffiths began her entrepreneurial journey a decade ago when she struck out on her own [4]. Her leadership saw Knix move from a niche startup to a company capable of attracting a majority investment from a global corporation.
“Joanna Griffiths is exiting Knix Wear Inc. after selling her remaining 20% stake in the company.”
The complete buyout of Griffiths' remaining equity signifies the total integration of Knix into Essity's corporate structure. This transition from a founder-led startup to a fully corporate-owned subsidiary is a common trajectory for high-growth e-commerce brands that successfully scale their niche offerings into mass-market products.
