Cambridge Satchel Company names new CEO following acquisition
British bag maker The Cambridge Satchel Company has appointed Carine de Koenigswarter as its new chief executive and chair.
It comes after the company, also known just as Satchel, was bought by French textile firm Chargeurs in August for an undisclosed sum.
Chargeurs took a stake of at least 75 percent in Satchel, while founder Julie Deane ceased “to be a person with significant control (PSC)”, according to filings at Companies House.
De Koenigswarter, who is the CEO and chair of The Swaine Group, which is also owned by Chargeurs, will take over the top job from Deane.
“It’s an honour to take the baton from Julie Deane and move The Cambridge Satchel Company forward to its next stage,” De Koenigswarter said in a statement.
She continued: “The success of the brand is proof that British craftsmanship, style and authenticity have a strong impact worldwide.
“Great Britain is known for its elegance and understated luxury. We at Swaine are committed to make Britishness the ultimate destination of true luxury and the addition of The Cambridge Satchel Company brings this vision one step closer.”
Top changes at Satchel
Alongside Deane’s exit, Satchel directors Giuseppe Zocco, Willem Herman Haitink, and Faris Ayoub all stepped down in August, while Chargeurs executive Yann Delmas was appointed as a director.
Chargeurs said at the time that Satchel has “strong potential for premiumization and international expansion” thanks to its Made in Britain offering coupled with “the visibility of its brand and the excellence of its digital expertise”.
The Cambridge Satchel Company is a designer, manufacturer and distributor of premium leather bags and satchels founded in 2008 by Deane and her mother Freda Thomas with an investment of just 600 pounds.
In 2013, it opened its first store in London’s Short Gardens, which it later relocated to James Street, before opening further stores across the UK.
Today, the brand is stocked in more than 150 countries and employs over 60 people.
It has also previously linked with a number of other iconic brands including Vivienne Westwood, Comme des Garçons, and Farrow & Ball.
Last year, Satchel opened a new 1,054 square foot London flagship on Carnaby Street.