Index injects $21m into The Cambridge Satchel Company

The company will use the fresh funding to bolster its management team and recruit in the digital space, with the aim of developing its online presence. 

"One of our team noticed the company when it featured in an ad for Google Chrome. Then it took quite a few months actually, because Julie [Deane, the firm's founder] didn't really entertain the need for investors at that point. So finally, after about a year, last Spring we were able to spend time together in our office and share the experiences with Julie that we've had with some of our companies - especially Moleskine, where there are many synergies in design, authenticity and style," Giuseppe Zocco, partner at Index, told unquote". 

Index aims to grow the firm internationally, with a focus on China and the US. "The company has already completed the first phase of growth very well on its own. We're really focusing on the next level, going from €10-20m sales to €100m, building a management team, expanding the international presence, building the systems for scalability. That's our focus now," says Zocco. 

Index invested via the €500m Index Ventures Growth Fund II. 

Company
Founded in 2008 and based in Cambridge, The Cambridge Satchel Company produces leather satchels. The firm takes a made-in-Britain approach, using British craft skills and manufacturing. 

The company has more than 100 employees and retails in more than 100 countries. In 2013, the business moved to a new factory based just outside of Leicester. It has three shops in London and Cambridge. 

The Cambridge Satchel Company has collaborated with retailers including Vivienne Westwood, Comme des Garcons and Christopher Shannon.

People
Giuseppe Zocco is a partner at Index and worked on the deal. Julie Deane and Freda Thomas are the founders of The Cambridge Satchel Company.  

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• Topics
• UK / Ireland
• Consumer
• Expansion
• United Kingdom
• Index Ventures