JamJar Ventures into Fashion: British Fund Invests in Spanish TwoJeys Startup

The new generation of Spanish fashion companies, which have based part of their growth on communication adapted to the new generations, is beginning to mature by opening their capital. One of the main start-ups in the sector, Barcelona-based TwoJeys, founded by influencers Joan Margarit and Biel Juste, has sealed the incorporation of British fund JamJar Investments, which has participated in companies such as Deliveroo or Yepoda, as a shareholder.

According to Modaes, TwoJeys is already part of the portfolio of JamJar Investments, an investment vehicle driven by the founders of Innocent Drinks. Details of the transaction have not been disclosed and TwoJeys has not commented on the matter.

JamJar Investments was born in 2013 by Richard Reed, Jon Wright and Adam Balon, co-founders and co-CEOs of the beverage company, along with a fourth partner, Katie Marrache. The entrepreneurs spurred the vehicle, which already has a portfolio of more than 70 brands, just days after selling their first company, Innocent Drinks, to the company.s first company, Innocent Drinks, to Coca-Cola in a deal valued at more than $700 million, according to the fund’s website.

TwoJeys has added one of the fund’s founders to its newly created board of directors

TwoJeys becomes one of the first jewelry brands within the investment fund. Its portfolio focuses on both European and UK companies in sectors as diverse as food, technology and leisure. Within fashion, JamJar Investments also participates in companies such as Heist intimates, although its presence is especially relevant within the cosmetics sector, with brands such as Yepoda.

With the incorporation of the new shareholders, TwoJeys has gone from being managed by its two founders, as joint administrators, to creating a board of directors, with Margarit as chairman and Juste as director, a position also held by Adam Richard Balon (of JamJar Investments). According to the Mercantile Registry, in recent months TwoJeys & More, the company through which the brand operates, has carried out two capital increases of low amounts.

TwoJeys was born in 2019 as a digital native, seeking a niche in the young male market through jewelry, although over time it has diversified part of its catalog to clothing. Based in Barcelona, the company began operating thanks to an initial investment of €8,000.

The company, which closed 2023 with a turnover of €4.5 million, started out specializing in jewelry

In recent years, in addition to diversifying its catalog, the company has also made the leap to the retail channel, with the first openings of a pair of TwoJeys stores in Madrid and Barcelona. Currently, the company already has two other stores in Barcelona, and two more in Seville and Valencia. At the end of 2023, TwoJeys opened its first international store in London, to which it has added another store in Amsterdam.

Last summer, the company also sealed its first major collaboration within the sector: together with Zara, TwoJeys launched a capsule collection of jewelry, clothing and accessories, available in the giant’s flagship stores. Since then, the company has also collaborated with companies such as Havaianas, beer brand Estrella Damm and ice creams Magnum.

According to the latest accounts available at the Mercantile Registry, TwoJeys & More ended the 2023 financial year with a turnover of €4.49 million, which represented a 33.2% growth compared to the 3.37 million euros of the previous year.

The company closed the year with a negative gross operating profit of €94,317, compared to a positive €12,806 twelve months earlier. In 2024, the company posted a net loss of €91,426, compared to the €7,688 it earned in 2023.