Meghan Markle Invests in Luxury Purse Line Handwoven in Rwanda

Meghan Markle, the Duchess of Sussex, continues her commitment to empowering women through business ventures. Recently, she invested in Cesta Collective, a sustainable luxury brand known for its basket bags handmade in Rwanda and finished in Italy.

Markle discovered Cesta Collective while engaging in everyday online shopping, she shared with The New York Times. She explained, “I spend a lot of time just Googling, looking for brands. When people are online looking for things or reading things, I’m trying to find great new designers, especially in different territories.”

In May 2023, Markle carried a Cesta handbag to a dinner date with notable celebrities including Cameron Diaz and Gwyneth Paltrow. The brand instantly reaped the benefits of her endorsement. Cesta founder Erin Ryder recounted, “We were on our way to Mexico to shoot a look book. We got off the plane, got our internet on, and, all of a sudden, this one style that had been a little bit sleepy was totally sold through, and we were getting a lot of ‘back in stock’ sign-ups. We knew there had to be some reason that these were selling so quickly, so Courtney did some internet sleuthing to find out. We had more sales in one day than we’ve ever had.”

This boost in sales led to a relationship between Markle, Ryder, and Cesta co-founder Courtney Fasciano. In the summer of 2024, Markle became the brand’s first external investor. Though the exact percentage and amount of funding were not disclosed, it was confirmed that Markle holds a minority stake.

Markle embraces her status as a trendsetter to shine a light on emerging and deserving brands. “Times where I know there is a global spotlight, and attention will be given to each detail of what I may or may not be wearing, then I support designers that I have really great friendships with, and smaller, up-and-coming brands that haven’t gotten the attention that they should be getting,” she said. “That’s one of the most powerful things that I’m able to do, and that’s simply wearing, like, an earring.”

Ryder and Fasciano, the founders of Cesta, are dedicated to responsible production and fair wages for their artisans. Despite their bags being priced in the hundreds of dollars range and the company generating about $1 million annually, they remain the company’s only full-time employees. Their focus extends beyond profit; they aim to invest in women, expand into new markets, and collaborate with female artisans in developing countries.

Markle, meanwhile, views her influence as a constructive alternative to the competitive business landscape. She describes herself as a dolphin rather than a shark. “Investing in them has helped me line up for this chapter where I’m investing in myself,” she told The New York Times.

Her venture capital initiative, whimsically named “dolphin tank,” contrasts with “Shark Tank.” Markle’s portfolio now boasts between five and ten brands that she believes align well with her American Riviera Orchard brand. She emphasized, “These are friendly waters.”

Source: The New York Times