Handbag Clinic, a luxury accessories specialist based in the UK, has secured a substantial investment of £800,000 from the North East Venture Fund, with backing from the European Regional Development Fund. This injection of funds will be utilized to improve the company’s technology and innovation, facilitate nationwide expansion, and bolster its senior management team. As part of its growth strategy, Handbag Clinic has appointed Beatrice LaFon, former CEO of Claire’s Accessories, as the chair, and Ian Griffiths, founder of the WhoCanFixMyCar website, as a digital strategy consultant.
Alongside these exciting developments, Handbag Clinic is set to create approximately 20 new positions at its headquarters in Burnopfield, County Durham. The company, which specializes in expertly reviving and selling luxury handbags, including renowned brands like Hermès, Chanel, Louis Vuitton, Dior, and Gucci, currently restores around 700 bags per month and resells approximately 300. It operates physical stores in London and Leeds, as well as concessions in Fenwick, Newcastle, and Colchester. Handbag Clinic also has franchises in Europe and the Middle East and a thriving online platform.
Despite the unprecedented challenges posed by the pandemic, Handbag Clinic has continued to experience consistent growth and achieve record-breaking online sales. In the second quarter of 2020 alone, the company witnessed an astonishing 500% surge in online sales, contributing to an overall year-on-year growth rate of 306%. Founder Charlotte Staerck expressed her enthusiasm for the new additions to the board and the investment, highlighting their extensive knowledge and expertise that will bring immense value to Handbag Clinic. She firmly believes that with their shared vision and the fresh injection of funds, the company can successfully realize its ambitious growth plans and propel Handbag Clinic to unprecedented heights.
As a leading luxury accessories specialist, Handbag Clinic showcases the potential for growth and innovation within the industry. The investment from the North East Venture Fund, in collaboration with the European Regional Development Fund, emphasizes the significance and potential of the brand. With the new appointments of Beatrice LaFon and Ian Griffiths, Handbag Clinic is well-equipped to navigate the ever-changing market landscape and capitalize on emerging opportunities.
Useful Links:
1. Handbag Clinic’s Official Website
2. Fenwick Department Store
