Radley – no underdog in luxury market
The UK leathergoods brand has expansion firmly in its sights. Radley’s head of supply and development tells World Leather that a more sumptuous look, and increasing leather useage, is part of its growth strategy.
A new partnership with premium retailer Selfridges marks an important step on Radley London’s so-called “journey of elevation”. The UK-based leathergoods brand that is perhaps best known for its distinctive Scottish terrier logo has been pushing into new markets, investing heavily in marketing and expanding its ranges in recent years “Selfridges is known for curating only the best brands and Radley will join an incredible line-up, sitting alongside an array of household designer names,” says CEO Justin Stead.
The idea of the brand started life on a stall in London’s Camden market in the 1980s, with founder Lowell Harder selling accessories from an Indian manufacturer under the name Hidesign, and later joining forces with handbag company Tula Group. The story goes that Ms Harder felt the accessories market lacked fun and colour, and so started Radley to address this in 1998, sealing its appeal with the Scottie logo that soon appeared on every design. Its rapid growth, doubling turnover between 2003 and 2006, made it an attractive target for private equity firms, wooed by its potential, particularly in international markets, and its strength in the “affordable luxury” segment.
It was bought for £42 million in 2004 by Phoenix Equity Partners, which made an astonishing return only two years later in a £130 million deal to Exponent Capital Partners. Exponent appointed Mr Stead when the then-CEO retired, and sold the company on to Bregal Freshstream in 2016. Freshstream hired Don McCarthy, a former House of Fraser CE0 and former boss of Mr Stead, as chairman to add clout. At that time, Radley had 33 stores and eight concessions, and a presence in 33 John Lewis stores, 58 branches of House of Fraser and more than 200 other shops.
The next few years saw a period of reorganisation, scaling some stores back “so as not to be distracted”, restructuring the teams and setting sights on the US and China. Mr Stead commented in 2017 that the previous entry into the US was a “disastrous initiative that simply was not well thought through”; this time he wanted to invest in marketing before the store launch, and boost ecommerce, aiming to double online sales over three years.
Indian connection
Away from the ownership and management changes, the company has maintained its strong ties with India, where the leathergoods are made. Up to 20 skilled craftspeople can work on each bag, and are described as “a longstanding part of the Radley London family”. They work closely with the London-based design team to bring the creations to life.
“Every Radley London piece is built to last season after season,” Martyn York, head of technical, supply and product development, tells World Leather. “We understand that for our customers this is a considered investment piece, and as such want to provide them with quality through our manufacturing processes in the hands of genuine artisans, so they can be enjoyed for years to come – we believe in buying well and investing in a piece that will endure time.”
Leathers are sourced from tanneries that are rated Leather Working Group bronze as a minimum, with 90% reaching gold. “We’re proud of the progress made with all our partners to reach globally recognised standards, which reflect the wellbeing of people, the environment and our progress in further improving our carbon zero programmes.”
The company has expanded product ranges and added extra leather footwear collections over the past 12 months. Its latest collection includes plenty of pastel shades, embellishments such as applique, and floral motifs on bags, inspired by beaches and windswept dunes. “We thought about how we’d feel when the lockdown eases,” says head designer Zizi Hill, “how we’d embrace our freedom and travel to shores further away, taking in the warmer air as the season changes.”
She adds that “quality craftsmanship, attention to detail and amazing design” are the hallmarks of a great handbag. “The size, colour and shape are obviously important, but the handbag has to work with the needs of modern life,” she says.
Renewed optimism
The spring-summer 2021 designs and colour choices also reflect new beginnings, a feeling that the worst of the pandemic is behind us, and that people will have confidence to meet – and shop – again. The company is “rapidly increasing” product categories further in the upcoming months, including additional choices of leather and a “more sumptuous look and feel” to the range, Mr York states.
“The quality of our bags rivals those of high-end designers, and we are proud that Selfridges have chosen to position us alongside them. Many sectors and businesses have had a level of impact during the pandemic, and leathergoods is no different,” he adds. “As retail lifts and customers search for more investment pieces, we believe Radley London is evolving to meet the expectations of our valued and loyal customers.”
All Credits: Radley London
