Private equity firm Soho Square is closing in on a deal to acquire a significant minority stake in Strathberry, according to a Sky News report. The transaction could be finalised in the coming weeks and would see existing investor BGF sell its holding.

The growth-capital firm invested £8m ($11m) in 2021 for a minority stake of around 25%, at a valuation of about £32m ($44m). Sales have since grown roughly fivefold, and a price near £100m would value the business at about three times BGF’s entry mark.

Strathberry broke through when the Duchess of Sussex carried one of its leather bags on her first public outing after her engagement to Prince Harry. Its designs, marked by a signature T-bar clasp, have been seen on the Princess of Wales, Lady Gaga, Jennifer Lopez, and TikTok star Addison Rae.

The Edinburgh-headquartered company grew 35% in its 2025 financial year, posted record trading in November and December up 58% on the prior year, and is on track for around £50m ($68m) of revenue in the year to April 2026. Soho Square is buying out BGF while founders Guy and Leeanne Hundleby retain control. The next phase is likely to centre on international expansion, especially in the US, and new product categories.