Photo: Courtesy of The Cambridge Satchel Company.
Three cheers for the Cambridge Satchel Company, who announced on Friday that they have secured a £12.7 million ($21 million) investment from Index Ventures. When you think this company was founded by mother-and-daughter duo, Freda Thomas and Julie Deane at their kitchen table with only £600 as the initial outlay, it makes the news even more incredible.
The company’s signature handcrafted leather satchels have struck a chord with the fashion set the world over. As Deane explained to us last year, “From the early days, when we were running a DIY £19.99-a-month website, I could see that people like Sophie Ellis-Bextor were buying satchels from us, and I remember my mum taking the order from Erdem at my kitchen table. My customers have always known that my bags were trendier than I thought they were. They saw right from the beginning what we could be, so it’s often them who give us the ideas about where to go next."
And, this brand is definitely going to the next level. This new injection of cash allows Deane to invest in her management team, as well as digital specialists to ensure this business has the online presence it richly deserves. “Digital is at the heart of everything we do, which is why we are so excited to be entering into this partnership with Index, who have no equals in the digital arena,” says Deane. “Its work with inspirational companies like Moleskine, ASOS, Net-A-Porter, and Nasy Gal, shows why they are the best-placed investors by far to help us navigate this fast-moving and ever-changing space, as we take The Cambridge Satchel Company into new markets and expand our global digital presence.”
The latest spring collection has just gone online and is a tempting mix of delicate pastel hues and shiny patent leathers available in a variety of sizes, from dinky to oversized. Looks like this kitchen-table fairy tale isn’t over yet. And, we are very much look forward to the next chapter.