Cambridge Satchel Company wins startup of the year award
Cambridge Satchel Company, the maker and retailer of traditional satchels in bright colours, has been named as the NatWest Startups Business of the Year 2011.
Founded by Julie Deane and her mother Freda Thomas in 2008, the company now makes more than 3,000 bags a week which are sold via the company’s website and through stockists such as Harrods, Selfridges and ASOS.
The business has grown 350% in the past six months and is forecasting a turnover of £10 million next year, up from £2 million in 2011, as it expands into the US.
Having featured in Vogue in six countries, the company has witnessed an explosion in demand for its satchels which have achieved a cult status.
Commenting on the award, Julie Deane said: "This has been an incredible year for The Cambridge Satchel Company. Our bags were the toast of New York Fashion Week. Bloomingdales called us "The Brit It Bag" and orders from the US and other overseas markets have poured in."
Steph Welstead, editor of Startups.co.uk, added: "The Cambridge Satchel Company’s phenomenal success is an inspiration to aspiring entrepreneurs. Equally impressive is their retail presence."
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