<\/a><\/p>\nEdinburgh-based luxury leather goods brand Strathberry has secured a growth investment from London-based private equity firm Soho Square Capital, marking the debut deal from Soho Square Partnership Capital Fund II and Strathberry’s second round of institutional financing since it was founded in 2013.<\/p>\n
The value of the investment was not disclosed. Soho Square, which typically structures its investments through senior or preferred capital with minority equity stakes and can commit up to \u00a340 million in any given transaction, said the deal enables husband-and-wife co-founders Guy and Leeanne Hundleby to retain control of the business, supported by managing director Martin Byrne. Soho Square Director David Steel will join the Strathberry board. Soho Square succeeds BGF as Strathberry’s institutional partner; BGF invested \u00a38 million in the business in January 2022.<\/p>\n
The capital will be used to accelerate the brand’s global expansion, with a particular focus on North America \u2014 already Strathberry’s largest market globally \u2014 alongside a roll-out of new stores and continued investment in the brand. Beyond the UK and North America, the release cites continued demand from APAC and GCC markets, and from newer territories including Australia and Germany. Strathberry ships to more than 100 countries and, according to the release, has delivered a compound annual growth rate of 43% over the past three years.<\/p>\n
“This investment marks an incredibly exciting chapter for Strathberry. Since founding the business, our ambition has always been to build a global brand with a distinct point of view, while staying rooted in our commitment to exceptional craftsmanship, creativity and thoughtful design. This partnership gives us the opportunity to accelerate that vision and invest in the next phase of our growth. We look forward to working closely with David and the whole team at Soho Square Capital,” said Guy and Leeanne Hundleby, Co-Founders of Strathberry.<\/p>\n
“Strathberry is an exceptional brand with a rare combination of craftsmanship, a distinctive design signature and a genuinely international, loyal customer base. The label’s ‘high-end quality at accessible prices’ ethos is resonating with shoppers disillusioned with top luxury houses. Guy, Leeanne and the team have created something special, and there is significant scope to grow the business further, particularly internationally. We are delighted to be backing the team and look forward to supporting their plans,” said David Steel, Director at Soho Square Capital.<\/p>\n
Strathberry sells through a digitally led direct-to-consumer channel supported by a small estate of stores \u2014 including Burlington Arcade and Covent Garden in London and Multrees Walk and Victoria Street in Edinburgh \u2014 and a curated wholesale presence in leading luxury retailers. Every bag is designed in Scotland and handcrafted in Ubrique, Spain, described by the company as the same artisan heartland used by Europe’s leading luxury houses.<\/p>\n
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