The Handbag Clinic, a company specializing in leather goods restoration and luxury resale, has received a significant capital injection to fuel its growth in the UK and international markets. The funding will also support the development of its e-commerce platform. The North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia Ventures, provided the new investment. NEVF has previously invested in The Handbag Clinic, demonstrating its continued support for the company. In addition, an undisclosed private investor has also participated in the funding round.

Having been in operation for 25 years, The Handbag Clinic has reported record growth over the past year. Its turnover reached £1.6 million in the last financial year and is projected to nearly double to £3 million this year. The company has also witnessed a surge in e-commerce revenues, with monthly figures rising from £160,000 to £325,000 on average. E-commerce traffic has increased by 53%, and e-commerce gross revenue has grown by 97%. Moreover, total orders have seen a 57% rise.

Setting itself apart from other platforms, The Handbag Clinic is the oldest luxury aftercare and resale retailer in the UK. It has expanded its range of offerings to include shoes and leather clothing. One of its unique selling points is its circular approach to address end-of-life issues. The company’s “Buy, Sell, Restore, Authenticate” model combines restoration, authentication, and resale, thereby contributing to the circular economy by reintroducing value back into consumers’ wardrobes.

Apart from securing funding, The Handbag Clinic has appointed Tracy Lewis, an accomplished entrepreneur and global brand Chair, as its new Chairperson. Lewis brings a wealth of expertise from the fashion, beauty, consumer, retail, and impact investment sectors. She has successfully guided and supported brands in achieving global growth and has played a role in numerous business exits, generating substantial shareholder value. Lewis is also actively involved in mentoring and nurturing teams to accelerate business expansion.

Will Chalk, previously associated with Alphagenix, Mococo, and Noggin HQ, has assumed the position of Chief Technical Officer at The Handbag Clinic. John Cunningham, a former Aftersales Manager for Chanel, has joined as the Customer Service & Operations Manager. The company credits its sustained growth and previous NEVF investment to the significant growth of its workforce, which has expanded to 55 employees in just over two years. The Handbag Clinic aims to add ten more positions in finance, technology, marketing, and artisan development in the coming year.

Ian Wilson of Mercia Ventures highlighted the increasing demand for sustainability in the luxury fashion industry and among consumers, which is driving the growth of the resale market. By positioning itself as the trusted aftercare service for leading luxury brands, The Handbag Clinic aims to become the foremost authority for pre-loved handbags with the support of its latest investment.

CEO and co-founder Charlotte Staerck expressed her excitement for the upcoming year and the opportunity to realize the company’s ambitious growth plans with the infusion of capital and the addition of new board members. Staerck emphasized that Tracy, Will, and John bring exceptional talent, knowledge, and expertise that will propel the business to new heights.

Sources:
1. [The Handbag Clinic](https://www.handbagclinic.co.uk/)
2. [North East Venture Fund](https://www.nef.co.uk/north-east-venture-fund-2/)

Note: The links provided are for reference purposes only and may not be the actual links relevant to the article.