Turnover plunges at Cambridge Satchel Company

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Turnover plunges by a fifth at Cambridge Satchel Company despite bag brand launching new design and running advert in fashion bible Vogue

By Daily Mail City & Finance Reporter

Published: | Updated:

Turnover plunged by a fifth at the Cambridge Satchel Company despite the bag brand launching a new design and running an advert in fashion bible Vogue. 

The firm, whose bags are a favourite of Louise Redknapp, Emma Stone and Alex Chung, made a loss of £1.4m in the year to June 2019 – down from £1.5m in 2018 – as sales fell everywhere, including by £800,000 in the UK. 

This came despite the fact that its new bag ‘exceeded expectations’, the group said. 

Struggle: The company was founded in 2008 by Julie Deane (above right) and is a favourite of Louise Redknapp 

The company was founded in 2008 by Julie Deane and her mother Freda Thomas at Deane’s kitchen table. 

The firm expects to take a hit from lower demand during the pandemic, which will mean it won’t break even until 2021. 

But it added that it’s seeing more activity online than normal. 

A Hong Kong-based private equity investor, Cassia, bought into the company in December to fuel an expansion of the business. 

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