Cambridge Satchel Company is about to leave the remainder of its humble beginnings behind, as it announces it's to receive a massive cash injection of £12.7m.
Index Ventures, who also helped the likes of ASOS and Net-a-Porter, has invested the money, which will help the brand expand and improve its digital presence, starting with the immediate hire of a head of digital. So if you're looking for a job at one of fashion's most quickly-expanding brands, dust off that CV now.
The Cambridge Satchel Company started life in the kitchen of Julie Deane's home, when she and her mother Freda Thomas made the colourful leather bags as a way to help fund Julie's daughter's education.
Now the bags are loved by everyone from fashion bloggers to celebrities, and even the cast of Mad Men. The Telegraph reports that the director of the hit US TV show gave the satchels to the cast as gifts. So expect to see Christina Hendricks carrying hers around New York, alongside Alexa Chung who has long championed the classic bags.
Speaking to WWD about the new investment, founder Julie Deane said: 'I feel like I’ve really taken my time. [The] digital [sphere] is where we belong, and when it comes to digital, no one is close to how good [Index Ventures] are; they understand digital so well.'
The Cambridge Satchel Company currently has stores in London's Covent Garden and Spitalfields as well as in Cambridge. We can't wait to see what their new website has to offer...
By Olivia Marks