Byrne Joins from Monica Vinader as Strathberry Looks to Build on Major Growth
Edinburgh-based luxury brand Strathberry has appointed Martin Byrne as its new Managing Director. Byrne, who brings over two decades of experience in managing and scaling luxury consumer brands, is set to officially join the company in November. He will work closely with founders Guy and Leeanne Hundleby to drive Strathberry’s ambitious global expansion plans.
The timing of Byrne’s appointment is notable, coming on the heels of Strathberry’s remarkable financial performance. The brand recently reported a 53% increase in turnover for FY24, bringing its revenue to £27 million, a figure that reflects a compound annual growth rate of 55% since FY21. With a solid double-digit profit margin, Strathberry is now aiming to hit the £100 million revenue mark within the next three years.
The luxury leather goods brand – which is now stocked at over 90 stores worldwide – has seen particularly strong demand in North America, where sales surged by 90% last year. Additionally, online sales in the Middle East and Japan have experienced significant growth, increasing by 143% and 61% respectively. This expansion has been supported by an £8 million investment from the UK’s Business Growth Fund in 2021, which was aimed at accelerating Strathberry’s growth.
Byrne’s extensive experience in the luxury sector will be crucial as Strathberry looks to enhance its e-commerce capabilities, expand its retail presence, and strengthen its wholesale partnerships. The Hundlebys expressed their excitement about Byrne’s arrival, stating, “We are thrilled to welcome Martin Byrne to the Strathberry team during this exciting period of growth. Martin’s extensive experience in the luxury sector, coupled with his proven track record of driving growth, makes him the ideal candidate to help us capitalize on the numerous opportunities ahead.”
Byrne, currently the Chief Commercial Officer at Monica Vinader, also shared his enthusiasm for the new role. “Strathberry’s exceptional products and impressive recent performance speak volumes. After meeting Leeanne and Guy, it was clear to me that the brand has tremendous potential, and I am eager to contribute to its continued success,” he said.
Byrne’s career has been marked by notable achievements in the luxury sector, including his role in doubling Monica Vinader’s sales to over £100 million and facilitating its sale to private equity firm Bridgepoint in 2023. His leadership positions at Links of London and Simon Harrison Ltd further underscore his expertise in the luxury market.
