KOI-Kings Of Indigo, the Dutch sustainable jeanswear brand founded in 2011, has informed its partners, suppliers and clients that KOI International B.V, the company that owns the brand, has filed for bankruptcy. The message was sent via e-mail and through a Linked-In post today.
"It is with a heavy heart that we have decided to file for bankruptcy for KOI International B.V. With everything going on in the world today, it was not possible to realise a new investment round in time. The shareholders have made every effort in recent months to arrange a refinancing, but unfortunately did not succeed in this. The road is now open for those interested, to continue our concept with a restart," the message explained.
Tony Tonnaer, founder of KOI, commented: "It absolutely hurts to leave behind everything we've worked so hard for. But I also feel genuine pride and appreciation for everything we have achieved with the team. With Kings Of Indigo we were able to contribute to making the fashion industry more sustainable, showing other brands how to work cleaner and with more care for the people involved in this industry, without compromising on quality. I have felt supported by many people in this mission. I wouldn't have wanted to miss this adventure for the world."
Despite this experience, KOI's founder believes that sustainable fashion is the future. "We hope that brands and retailers will continue the development to make the fashion industry a bit more friendly for our planet and those we share it with," he added.
The note ends, explaining that bankruptcy trustee D. Cohen Tervaert is investigating about the possibilities of a restart.