Sales at a Scottish luxury handbag brand used by Catherine, Princess of Wales, have soared by more than 50% to almost £30million.
Edinburgh-based Strathberry bagged record sales of £26.4million in the year to April, up 56.5% from £17million the previous year.
The brand, a firm favourite among celebrities and Royals, has now set an ambitious target of more than tripling sales to £100million within three years.
Founded by husband and wife team Guy and Leeanne Hundleby in 2013, Strathberry employed more than 100 people with most based at their Edinburgh HQ.
Strathberry bags are sold in top London department stores Fortnum & Mason, Liberty and Harrods, as well as their own stores in Edinburgh’s Multrees Walk and Victoria Street among more than 90 outlets around the world, with growing demand from America, the Middle East and Japan.
Their growing success has seen online sales of leather goods, cashmere and jewellery surge by 68% compared to the previous year, with the Edinburgh retail stores seeing year-on-year sales rise by 30%.
According to accounts filed at Companies House, their retail stores are benefiting from the return of tourists to both Edinburgh and London following the pandemic, with an “increase of domestic footfall to all store locations”.
Compared to other leading luxury brands, the bulk of Strathberry’s goods are “accessibly” priced at £300-£400 helping them to sell around 105,000 handbags a year.
The brand is now working with leading mills to develop their own signature Strathberry tartan in a further diversification of their range of goods and celebrate their Scottish roots.
Ms Hundleby says: “With the name Strathberry, we really wanted to honour our Scottish roots and named the brand after the word Strath, meaning wide river valley in Scots.
“In the past, berries were used to dye the traditional Scottish fabric and materials. This is where Strathberry comes from.”
In August, Strathberry announced the appointment of new chief executive Martin Byrne, who has been tasked with helping them reach their £100 million sales target.
The financial report says: “During the year ended 30 April 2024, the company continued to demonstrate resilience and achieved strong growth despite the challenging market conditions faced by the retail industry.
“The growth trajectory is supported by new product launches and continued brand development and reach. Our revenue growth continues to reflect strong customer demand across our key strategic channels and regions.”
Catherine, Princess of Wales, first gave Strathberry her royal seal of approval when she used one of their designs during a visit to the capital to thank NHS workers for their efforts during the pandemic as part of a three-day royal tour in December 2020.
She carried the “Multrees Wallet” shining a spotlight on the brand and immediately fuelling demand for the bag which quickly sold out online. Sophie, Duchess of Edinburgh, Zara Philips and Princess Eugenie have all also been spotted sporting Strathberry bags.
The brand is instantly recognisable due to its signature bar closure and minimalist designs, with its leather goods handmade in Ubrique, a remote Andalusian village in the Spanish mountains.
Its range of designer handbags and accessories are also favourites of Meghan, Duchess of Sussex, as well as singers and actors Lady Gaga, Kate Hudson, Margot Robbie, Jennifer Lopez and Katie Holmes.
