British accessory label Cambridge Satchel Company has secured $21m investment from Index Ventures – backers of global brands and fashion retailers including ASOS, Moleskine, Net-à-Porter and Nasty Gal. The satchel purveyor, which was founded by Julie Deane and her mother Freda Thomas on a £600 budget in 2008 and now has an annual turnover of £13 million, is now preparing for global expansion.
Said Julie Deane: “Index Ventures is the perfect partner to help us expand internationally, and the funding will also be used to invest in our Leicester factory. Producing locally will always be an integral part of the business.