UK leathergoods restorer secures “significant funding” for growth
Designer handbag reseller, restorer and authenticator The Handbag Clinic has received a significant amount of investment from the North East Venture Fund and a private investor.
The undisclosed funds will be used to accelerate the company's growth, create jobs, and enhance its technology, including AI and microscopic imagery to support its authenticators.
The Handbag Clinic was founded in 2013 by Charlotte and Ben Staerck. It offers restoration, authentication, and resale services, with a full warranty on preloved items. The company is expected to double its turnover to £3m and has seen a doubling of average monthly e-commerce revenues to £325,000 in the 12 months to October 2023.
As a part of a recent agreement, the board has been expanded to include three new members. Tracy Lewis has been appointed as the chairperson and brings with her a wealth of experience from senior roles at renowned brands such as Wacoal, Marks & Spencer, Eylure, and Bluebella Lingerie. Will Chalk, the chief technical officer has expertise in marketing and data analytics and has worked with luxury brands in the past. John Cunningham, the new customer service and operations manager, has previously served as the aftersales manager for Chanel. These new appointments are expected to bring valuable insights and expertise to the company.
