Founder: William Scott Forshaw
Business: Maxwell-Scott
Revenue/Month: $300K
Founders: 1
Employees: 10+
Website: maxwellscottbags.com
Location: York, UK
Founded: 2002

In a world dominated by fast fashion, William Scott Forshaw, founder and CEO of Maxwell-Scott, is on a mission to make a lasting impact. Established in 2002, Maxwell-Scott is a British-born luxury leather goods company dedicated to providing the discerning professional with timeless design and unrivaled craftsmanship. Embracing slow fashion, the brand is devoted to creating exquisitely-made leather pieces that can be treasured and passed down through generations.

The story of Maxwell-Scott’s conception is rooted in Forshaw’s keen observation of a gap in the market. As he noticed professionals carrying plastic bags to work, he saw an opportunity to supply corporate London clients with high-quality, functional briefcases. From this vision, the company was born, and it has since blossomed into a thriving business that takes in $400,000 a month from websites in the UK, US, Germany, France, Switzerland, Austria, and Australia.

One of Maxwell-Scott’s flagship products, the Paolo3, is a testament to the brand’s commitment to quality and style. This classic three-section leather briefcase, complete with an Alce cast alloy lock and detachable/adjustable shoulder strap, remains one of the company’s best-selling items. Although it has undergone several revamps, its functional design and timeless aesthetic remain unchanged. The Paolo3 encapsulates Forshaw’s vision for the brand and serves as a constant reminder of how far it has come.

Maxwell-Scott’s target market consists of degree-level educated professionals aged 35 and above, who are likely to reside in or near large urban areas, be in a relationship, and possess a high disposable income. This discerning clientele appreciates the craftsmanship and attention to detail evident in every Maxwell-Scott product.

Over the years, the company has expanded its range of leather goods to include not only briefcases but also women’s purses, luggage bags, and accessories. Its growing reputation has led to prestigious partnerships and accolades. In 2017, Maxwell-Scott became official suppliers of Saracens Rugby Club, a top-tier domestic rugby union team in England. And in a crowning achievement, the company was nominated for Drapers’ Accessory Brand of the Year last year.

With a dedicated team behind him, Forshaw remains steadfast in his pursuit of growth and excellence. The success of Maxwell-Scott is a testament to his vision, passion, and unwavering commitment to elevating the world of luxury leather goods.

Backstory 

Before establishing Maxwell-Scott, Forshaw navigated various jobs after university but struggled to find a career path that ignited his passion. His inspiration struck during a holiday to Italy, where he observed an opportunity to offer a better option than the plastic bags and poor-quality briefcases commonly used by his corporate peers. Interestingly, his mother had a habit of bringing back Italian leather handbags from her trips to sell to friends, further cementing Italy as the ideal place to manufacture the high-quality products he envisioned.

The company name, Maxwell-Scott, was conceived by Forshaw’s mother, blending his and his brother’s middle names. Despite lacking expertise in leather goods, Forshaw was determined to find the perfect factory to produce his vision. His search led him to a family-run factory in Tuscany, the heart of Italy’s traditional leather industry. Today, Maxwell-Scott’s skilled artisans handcraft each briefcase, handbag, holdall, and accessory, providing the solid foundation for the brand’s success. Each piece comes with a 25-year guarantee, underscoring Forshaw’s commitment to slow consumerism and crafting accessories that last a lifetime.

Initially, Forshaw sold his briefcases directly to consumers in the very locations where he had first noticed the problem: office receptions, cafeterias, and meeting rooms. The success of this approach during the first two years allowed him to expand and participate in exhibitions and events, such as Cheltenham Racecourse, Burley, and Badminton Horse Trials. At the peak of this phase, Forshaw and his wife, Charlotte, participated in 50 shows a year.

However, recognizing the potential of e-commerce, Forshaw pivoted the brand to an online presence around 2008. This critical shift transformed Maxwell-Scott’s trajectory, setting the stage for future growth. Two other significant turning points for the company were the relocation from London to York in 2012, driven by Forshaw’s desire for a change of pace and a return to his Yorkshire roots, and a rebrand in 2015 that further refined the company’s direction.

Throughout this journey, Forshaw has experienced a steep but rewarding learning curve. His unwavering dedication to quality and his keen understanding of the market have propelled Maxwell-Scott to the forefront of the luxury leather goods industry.

Product Development 

Creating the perfect product is no easy feat; understanding the customer’s wants and needs is paramount. For William Scott Forshaw, designing his first briefcase was a thoughtful and meticulous process. With only $6,000 to start his business, Forshaw visited over 100 factories and tanneries in Italy to find the finest materials and workers to bring his vision to life.

Sourcing the right leather proved to be the most challenging aspect of the production process. Forshaw was determined to use only the highest quality full-grain leather, which is both environmentally friendly and durable. After finding the ideal factory, he established a simple yet effective process: sketching a design on a piece of leather and then handing it over to the factory to be replicated.

Over time, Maxwell-Scott’s design process has evolved to become more complex and collaborative. The team now starts by examining target personas and identifying gaps in their product offerings. They also consider brand expectations and future direction to ensure a loyal consumer base. Involving designers, production managers, and factory managers, they brainstorm ideas and source materials that align with the brand’s high standards.

Forshaw remains particular about using only the best materials, which can make sourcing a challenge. Once materials are selected, the team iterates through multiple prototypes, refining the product with the factory until it is perfected. The final step is to work with photographers and stylists to create stunning images that showcase the quality and aspirational nature of the product. As an e-commerce brand, this visual representation is crucial for conveying value to potential customers.

Launch Process 

In the early stages of Maxwell-Scott, founder William Scott Forshaw focused on selling directly to corporate customers in London’s financial district, Canary Wharf, and at exhibitions. Annual sales during this period reached around £25,000. As a way to expand the business, Forshaw faced a decision: printing a brochure or creating a website. Opting for the more cost-effective solution, he chose to build the company’s first website himself.

Initially intended as an online brochure for existing clients, Forshaw continued to develop the website from his home, gradually improving its design and functionality. As the website began to attract new customers and generate sales, he gained the confidence to pursue e-commerce as the primary avenue for business growth. Over the first five years, Maxwell-Scott transitioned organically from appointments and exhibitions to a fully-fledged e-commerce brand.

One of the biggest lessons Forshaw has learned throughout this journey is the importance of trusting one’s own ability and making confident, measured decisions. He financed the business with a $5,000 overdraft and has since relied on organic growth and occasional bank loans, without seeking external investors. Forshaw emphasizes the value of self-confidence in decision-making, while still remaining open to learning from others in the industry.

Marketing Strategy 

Building relationships with customers has been a fundamental component of Maxwell-Scott’s success since its inception. By maintaining active and engaging social media channels, the company can offer consumers daily insights into the brand while providing an accessible point of contact. Email newsletters also play a vital role in keeping customers informed and invested in the brand, with campaigns such as the 2018 Christmas Advent Calendar proving highly effective.

Press coverage has been another essential avenue for increasing consumer awareness. By actively networking and fostering relationships with journalists, bloggers, and PR teams, Maxwell-Scott has secured features in prominent UK publications such as British GQ, The Telegraph, The Independent, and The Guardian. Participating in awards, like Drapers, has also contributed to the brand’s visibility and credibility.

Amazon has proven to be a valuable platform for Maxwell-Scott, helping to expand brand recognition and build trust. The company is focusing on optimizing their presence on the platform by working with an Amazon account manager and investing in Prime and FBA (Fulfillment by Amazon) services.

Google Ads has been another crucial tool for reaching customers. By targeting specific long-tail keywords, Maxwell-Scott can increase conversion rates and more effectively reach their target demographic. While managing Google Ads in-house was initially challenging, the company’s growing expertise has allowed for more effective collaboration with external agencies.

In addition to these strategies, Maxwell-Scott is planning a wholesale campaign in 2019 to further expand their presence in the UK and Germany. Through a combination of multiple channels and a genuine belief in their product, Maxwell-Scott has successfully attracted and retained a loyal customer base.

Growth 

Over the last 3-4 years, Maxwell-Scott has experienced rapid growth, with a year-on-year increase of 20-25%. As a profitable company, they are now considering various opportunities for the future. On AdWords, they aim for a 4-1 return on investment (with seasonal fluctuations), spending over $500,000 a year. They have also recently begun using Bing, hoping for a 5-1 return moving forward. With a conversion rate of around 1.5%, 50,000 email subscribers, and 8,000 Facebook followers (across multiple accounts), the company emphasizes the importance of meaningful interactions and engagement over mere numbers.

Maxwell-Scott’s sales are distributed as follows: 50% through their websites, 40% through Amazon and other marketplaces, and 10% through corporate and wholesale. The company aims to expand corporate and wholesale sales in the near future, with a heavy focus on wholesale in 2019. They have hired a Commercial Director to aid growth and help with strategy, and they expect to see an increase in sales on Amazon due to the implementation of an account management program.

In the short term, Maxwell-Scott has doubled their office spaces, enabling them to accomplish more in-house activities such as photo shoots. Their long-term goal is to become a household name, with a vision to be “the most loved British bag manufacturer in the world.” As they continue to grow and evolve, Maxwell-Scott remains committed to its core values of listening to others while making confident decisions in pursuit of their ultimate aim.