Meghan Markle has taken a minority stake in Cesta Collective, a brand known for its hand-knitted bags.
How it happened: Meghan discovered Cesta Collective while surfing the web. “I spend a lot of time Googling brands,” she said. She recently invested in the brand, which employs women in Rwanda to make its products. The bags are finished in Italy, she told The New York Times in an interview.
Markle’s investment follows increased interest in the brand after she was photographed carrying a Chesta Collective bag during a dinner date in May 2023. The brand’s founders, Erin Ryder and Courtney Weinblatt Fasciano, noted that sales increased significantly following the incident.
Markle’s involvement is aimed at supporting women-owned businesses and promoting responsible production practices. Sesta Collective’s founders confirmed that Markle will take a minority stake in the company but declined to disclose financial details.
Markle’s investment portfolio includes several women-owned companies, in line with her mission to support emerging designers and ethical brands. Her investment approach has been described as “dolphin tank” rather than “shark tank,” emphasizing friendly, collaborative business practices.
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Why it matters: Markle’s latest investment in Cesta Collective is part of a broader strategy to support her ongoing efforts to promote social causes and responsible business practices.
In April, Markle and Prince Harry announced new projects with Netflix, continuing their partnership with the streaming giant that are expected to further their influence and provide a platform for their advocacy work.
Earlier in March, former US President Donald Trump suggested that Prince Harry’s drug use admissions could lead to his reelection as “an appropriate step,” adding a new layer of potential political tension to the couple’s public and private endeavours.
President Trump expressed a desire to debate Markle in September 2023, criticizing her treatment of the queen. Such public scrutiny has been a recurring theme in Meghan’s life, influencing her public image and business decisions.
Additionally, in June 2023, pop star Taylor Swift declined an invitation to appear on Meghan Markle’s now-canceled podcast, despite receiving a letter from the Duchess herself.
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Photo credit: Northern Ireland Office on Flickr
This story was produced with Benzinga Neuro and edited by Kaustubh Bagalkote.
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