Strathberry Set To Surpass £100 Million Within The Next 3 Years

Forbes

2 days ago

The East West Mini bag from Strathberry in vanilla Courtesy Strathberry
Leanne Hundleby is in a fine mood. One half of the power duo behind the leather accessories company Strathberry, she sits, smiling — on a surprisingly sunny day in Edinburgh — before a stunning floral backdrop, a wallpaper of vibrant blooms and patterns. I admire it. 'That's funny,' she says. 'Guy' — her husband and Strathberry co-founder — 'hates it.' It is perhaps a rare, and humorous, disagreement in a partnership that has brought the brand from strength to strength since it launched 12 years ago.
Hundleby has good cause to be upbeat. Strathberry is now on a trajectory to surpass £100 million revenue within the next 3 years, a lofty ambition at a time of unprecedented economic challenges and slumps in earnings. Well, not everywhere. Some brands are bucking the trend. Strathberry is one of them.
CAGR stats from FY22 to FY25 show a 54% increase with an even faster expansion in certain emerging regions such as the Middle East. As of April 2025, the brand represents a £36.4 million business that is continuing on a 'very strong trajectory in the current year,' as per official data. For this fiscal year, online accounts for 70% with retail and wholesale taking an even split of the remaining 30% of a market dominated by North America (50%), the UK (30%) and the ROW—it ships to over 100 countries— making up the remaining 20%.
A strategy of international expansion has been led by DTC channels and a well-curated list of 146 doors worldwide (including online). Wholesale partners like Neiman Marcus, Saks Fifth Avenue, Nordstrom and Bloomingdale's are supplemented with ones further afield such as Galeries Lafayette Dubai. In the UK, there are stores in the Burlington Arcade (opened in 2018) and Covent Garden (2024) as well as Edinburgh's Multrees Walk (2020) and Victoria Street, which launched earlier this year. A summer pop-up in Selfridges featuring two giant-sized handbags (a Mosaic and Tote, made in the UK from the same leather as the commercial products) state the brand's USP: high-quality minimalist accessories. The label now counts A-list stars — like Lady Gaga, Margot Robbie, Pamela Anderson and Anna Kendrick as well as HRH The Princess of Wales — as fans.
The Princess of Wales at the Order of the Garter service at St. George's Chapel, Windsor Castle on June 16, 2025 in Windsor with the Strathberry Multrees Chain Wallet (Photo by Max Mumby/Indigo/Getty Images) Getty Images
The heart of the business is the couple themselves, who are that rare thing in fashion: a duo who genuinely care about their products and customers. Even today, Leanne Hundleby loves nothing more than chatting to customers (incognito, of course) on the shop floor, observing how they interact with the accessories. 'I never say who I am. I just say I'm down from head office, and I love doing it,' she laughs. 'I think the minute you remove yourself and sit in a bubble, I feel you've kind of lost it. That engagement, that connection with the customer is so important for any brand founder.'
Strathberry has worked hard to gain global recognition from its Scottish roots, and this passion has been key to its success. Both founders are intimately involved in the business, advising on design aspects, silhouettes, new seasonal collections and more; they organise finance and assist in strategic planning. Leanne heads up campaigns, imagery and branding alongside retail and the overall running of the company, while Guy steers production, wholesale partnerships and generally oversees the finished products.
It's these that set Strathberry apart. Every bag is crafted by artisans in the Spanish workshops of Andalucía, which is renowned for some of the finest luxury leather craftsmanship in the world (houses like Loewe reportedly also use them). Using only the highest-quality Spanish and Italian leathers, each requires up to 85 pattern pieces and an average of 2,000 stitches. This attention to detail can be seen first-hand in the inhouse atelier which opened in March at the Edinburgh townhouse. This workroom also allows for shorter timeframes and greater flexibility in the sampling process, as well as the ability to offer a repair service to valued customers.
Strathberry's newly opened atelier at its Edinburgh townhouse headquarters. Courtesy Strathberry
The internet personality known as Tanner Leatherstein has featured a number of Strathberry's bags in his viral 'leather teardowns,' which see him dissect bags to show their true craftsmanship (and cost). All of the brand's designs have passed with flying colours. A review of the Nano Tote said it was the first time seeing that level of quality at that price point on the dissection table. 'It checked all the boxes you'd expect from a high-end luxury bag, just without the astronomical price tag,' he explains in a correspondence.
Considered pricing is a big part of Strathberry's allure. The tote retails for between £375 to £695, while other styles such as the Crescent sells for £455, and the Mosaic for £485. 'I think Strathberry offers one of the most well-balanced combinations of high-level design decisions and craftsmanship, all at very accessible price points. They're making leather luxury more widely available, and that unique value proposition has clearly resonated in the market,' he says.
Strathberry's AW25 campaign featuring the Crescent Moon bag in oxblood Courtesy Strathberry
Strathberry's balanced market distribution has included expansion in the APAC region. In China, it held its first ever pop-up at Reel Shanghai in 2019. Since then, it has had placements with celebrities like Teresa Cheung, Yang Mi and Michelle Wai as well as early collaborations with Mr. Bags, China's foremost handbag expert and influencer. The brand has been ramping up its efforts in Japan, too — where the Mosaic is a bestseller — over the last couple of years. Since entering in 2015, it has had organic fast-growing sales and now sells through more than 30 doors.
Plans for 2025 include a significant increase in brick-and-mortar: this January saw it launch a partnership with United Arrows and with Tomorrowland in July. Two key department store pop-ups in Ginza Mitsuskoshi and Hankyu Umeda, along with influencer activity, are planned for October around a visit of the co-founders — and those giant bags. Hundleby is excited for the opportunity: 'The Japanese shopper wants to see and feel the products, so I think having a stronger presence over there will be good to get the brand name out there more,' she says.
Global expansion hasn't meant neglecting its roots. Back home in Edinburgh, Strathberry opened a new store on Victoria Street this March and launched an innovative Borrow a Bag launch scheme in June with the Kimpton hotel (ideal for visiting tourists). Community is one of the pillars of the brand's ethos, seen in diverse projects such as its work with the Scottish capital's university, the promotion of local craftspeople, its large network of engaged influencers and even the cross-generational aspects of its products. Mother and daughter pairs often shop together. 'I see it in my own family, too, with my child and her grandmother. Different styles, of course,' she says, going on to argue that the appeal is from the fact that these are bags that are made to last — that are carried for life.
From June, guests at Kimpton's in Edinburgh and Glasgow can borrow their perfect travel companion in one of six signature Strathberry handbags. Courtesy Strathberry
'We use the phrase 'cherished for generations to come,'' Hundleby explains. 'From the generations of the artisans that make the bags to, hopefully, the generations of the same family today that a bag can be passed down through.' She acknowledges, too, that tastes change and the market is cyclical. Even with customers making more considered purchases, Strathberry shows it can adapt. The brand has recently moved away from the structured, architectural silhouettes it is known for to include more slouchy styles such as Charlotte and Kite. That said, the Tote — its first ever design —is always in the top three of its sales. Colors have evolved with customers buying more neutral shades (taupe, tan, oat, mushroom) with 'longer lasting appeal' for today's wardrobes. Such shifts are the result of Strathberry's ability to listen.
As we wind down, I ask about the future. The £100m revenue roadmap is clear. 'The U.S. continues to be a growth market for us. So does the Middle East, where we're doing super well. And the UK too, it's also a growing market for us. We're in a lovely position at the minute.' MORE ON FORBES Forbes On Tour With Stefano Ricci In India As New Collection Drops By Gemma A. Williams Forbes Why Moynat's 520 Campaign Is Going Viral In China By Gemma A. Williams Forbes Penhaligon's Celebrates 155 Years With Touring Exhibition By Gemma A. Williams