Julie Deane, the founder of Cambridge Satchel Co, has announced her resignation as chief executive following the sale of the British accessories business to French textiles giant Chargeurs. Started in 2008 with just £600, the company has since grown and gained popularity for its trendy collaborations, including partnerships with Comme des Garçons, Vivienne Westwood, and J Crew.
However, despite its initial success, Cambridge Satchel Co has been facing financial challenges and operating at a loss for several years. In order to secure the survival of the brand’s UK factory, Deane decided to sell the business in August. Chargeurs, known for its financial resources, was seen as the ideal partner to provide the necessary investment.
Carine de Koenigswarter, CEO and Chair of the Chargeurs-owned Swaine Group, has been appointed as the new CEO of Cambridge Satchel Co. The acquisition of the company by Chargeurs marks the establishment of an upscale brand grouping focused on British-made products. Swaine, which Chargeurs acquired last year, has now been merged with Cambridge Satchel to lay the foundation for this new venture.
Deane’s departure was not initially planned, but as the new owners revealed their vision and plans for the company, it became clear that she needed to follow her instincts. Carine de Koenigswarter expressed her gratitude for the opportunity to take over from Deane and lead The Cambridge Satchel Co into its next chapter. She emphasized the brand’s commitment to British craftsmanship, style, and authenticity, and aims to establish Britishness as the epitome of true luxury.
With new ownership and leadership, Cambridge Satchel Co is expected to experience growth and continued success in the luxury accessories market. The brand will continue to showcase the best of British design and craftsmanship.
Useful links:
1. Cambridge Satchel Co official website
2. Chargeurs official website
