Business 'shocked' at double dragon investment
BBCA business owner has said he was "completely shocked" after being offered more money than he was asking for on the BBC's Dragons' Den.
Sam Mabley, from Bristol, founded the sustainable fashion company Yes Friends in 2021 and was approaching the dragons to ask for £10,000 in exchange for a 2% share of the business.
Yes Friends, which says it seeks to "transform the fashion industry" by creating affordable, ethical and sustainable clothing, caught the eye of Deborah Meaden, who offered Mabley double what he was asking for in exchange for the same share.
"I was completely shocked, I didn't know what to say," said Mabley.
"After the den I was like 'I'm pretty sure that's never happened' and she was like 'I don't think that's ever happened before'," he added.
Yes Friends create clothes for men and women using organic Fairtrade cotton. It pays textile workers in India a fair wage and allows customers to tip them through its website.
The company says it only costs an extra "15p to 20p per T-shirt" to pay the workers a living wage, meaning they are able to keep retail prices low and create a better environment for workers in an industry where low pay, poor conditions and exploitation are common.
"It might be more sustainable to make them in Bedminster [where the company is based], but if we're going to make it affordable as well, then it's much easier to produce abroad," Mabley told BBC Points West.
Mabley's pitch also drew the attention of dragon Touker Suleyman, but ultimately it was Meaden's offer of extra cash and her experience working with ethical businesses that won through.
"I have got the absolute audience that you are talking to and I really want to be your investor," she said.
Mabley said the pitch was "terrifying" but having the Dragon on board was "exciting" and could bring "wisdom and experience" to his company.
The business plans to invest the money in new stock that can open it up to new audiences.
Mabley says the business is also looking at ways to "increase the impact we have for garment workers".
Dr Emma Rigby, associate director of the fashion department at the University of the West of England, said: "Fairtrade and organic cotton provide some examples of better practice in the production and manufacture of cotton, yet when considering sustainability, these matters are more complicated."
She said growing cotton always uses a lot of water, but doing it organically is "no doubt better for the environment".
But organic cotton can cause supply issues for farmers, she said, due to the potential for significantly smaller yields.
Rigby said the Fairtrade approach was "incredibly valuable" because of the protections for farmers and workers in an industry that "generates significant profit through the exploitation of both people and resources".
She added: "A sustainable clothing item is one with a local and light production footprint, one that is thoughtfully made, valued by its owner, and cherished and worn well."
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