The Cambridge Satchel Company announces new CEO as Founder Julie Deane departs

Julie Deane, Founder of The Cambridge Satchel Company, has left the business following its acquisition by French textile giant Chargeurs in August 2022.

Deane, who famously started the business from her kitchen with just £600 in 2008, said that rocketing energy costs hitting UK production at the company’s Leicester factory was a deciding factor, despite successfully steering the business through the COVID-19 pandemic and Brexit.

On the sale to Chargeurs, Deane told The Times that the company “really needed to raise money,” but she added that it was very important for her to “safeguard the business and the jobs,” and that the acquisition was a reassurance that “the business is in good hands.”

She is, however, aware that “the new owners have their own vision”, and she did not want to remain to be “the miserable person in the corner.”

The Cambridge Satchel Company has joined Swaine, a high-end leather goods maker acquired by the French group last year, as part of a British-made luxury goods arm to its business.

The Cambridge Satchel Company also announced that Carine de Koenigswarter, CEO and Chairman of The Swaine Group, will take on the role as CEO of the British brand.

Carine de Koenigswarter, CEO of The Cambridge Satchel Company, commented: “It’s an honour to take the baton from Julie Deane and move The Cambridge Satchel Co. forward to its next stage. 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 Co. brings this vision one step closer.”