Kathy and Steve Elkins stand in front of WEBS. They announced today that they’ve sold their family business to LoveCrafts, a UK-based startup.
WEBS, the Northhampton, Massachusetts based yarn shop that markets itself as America’s Yarn Store, announced today that it has been acquired by LoveCrafts, a venture capital-backed startup based in the UK. The terms of the deal were not disclosed.
“Our companies’ values align perfectly,” stated Kathy and Steve Elkins, the second generation owners of WEBS in a press release announcing the sale. “LoveCrafts has built a community of smart, kind, and passionate makers who champion craft and the joy of making. Together, we believe we become the destination for yarn enthusiasts in America.”
The Elkins will stay on, continuing to run WEBS and assuming the roles of “Cheif Global Yarn Officers.” The WEBS site will not change, at least not in the immediate future. “Over time, any changes we make will be to bring you an even better shopping and community experience. WEBS is here to stay,” today’s press release explained.
LoveCrafts launched in 2012 and has taken funding from many of Europe’s leading venture investors including Balderton Capital, Highland Europe, and Scottish Equity Partners. In September 2019, LoveCrafts acquired SewandSo, a property formerly owned by F+W Media.
Kathy and Steve Elkins assumed ownership of WEBS in 2002 when Steve’s parents, Barbara and Art, were ready to retire. (Hear Kathy tell the story of WEBS on our podcast.) They’ve grown and expanded WEBS, transforming it from a catalog business into one of the largest ecommerce yarn shops, and, in 2018, acquiring Tahki Stacy Charles and String, a boutique yarn store in New York City.