Since Harry and Meghan, the Duke and Duchess of Sussex, moved from London to California, many things have changed. The couple has shattered the illusion of royal unity, welcomed a second child, opened up to Oprah Winfrey, appeared in a self-titled documentary, and become a staple in tabloid headlines. Depending on your perspective, they are either seen as advocates against a rigid, racist establishment or as opportunists seeking personal gain.
Despite the media frenzy, Meghan’s ability to drive sales has remained remarkably high. In 2020, she decided to put her money where her taste is by investing in a portfolio of female-run companies.
The latest addition: Cesta Collective, known for its basket bags handwoven by women in Rwanda and finished in Italy. Meghan discovered the brand while browsing online.
“I spend a lot of time just Googling, looking for brands,” Meghan shared last week from her home in Montecito, shortly after returning from a tour of Colombia with Harry. “When people are online looking for things or reading things, I’m trying to find great new designers, especially in different territories.”
Meghan wore a Cesta bag to a dinner date with Cameron Diaz, Gwyneth Paltrow, and their spouses in May 2023. After photos of Meghan with the bag went public, Cesta’s founders, Erin Ryder and Courtney Weinblatt Fasciano, saw a swift increase in interest.
“We were on our way to Mexico to shoot a lookbook,” Ms. Ryder recounted. “We got off the plane, connected to the internet, and suddenly, a style that had been slow-moving was sold out. We had more sales in one day than ever before.” Realizing the sudden surge in sales was linked to Meghan, they sent her a thank-you note, which led to a deeper relationship. This summer, Meghan became their first external investor. While Meghan has not disclosed the amount or ownership percentage, Ryder and Fasciano confirmed it’s a minority stake.
Meghan recognized the impact of her fashion choices in 2017 after her engagement to Harry when a bag from Scottish brand Strathberry sold out online in 11 minutes following her appearance with it. Knowing that her endorsement helped Strathberry expand its workforce, Meghan said it transformed her approach to fashion.
“It’s not that different from dressing for a role, but the role is me,” Meghan explained. “When I know there’s a global spotlight, I support designers I’m friends with and up-and-coming brands that deserve more attention. Wearing a simple piece, like an earring, can be very powerful.”
For Cesta Collective, Meghan’s financial backing is appreciated, but her belief in the brand is even more valuable. Ryder and Fasciano, the company’s only full-time employees, run a business with about $1 million in annual revenue. Their bags, which cost hundreds of dollars, are made in small batches of 25 to 50 units, with each bag taking four to seven days to weave. They emphasize responsible production and fair wages over profit margins.
With Meghan’s involvement, they hope to grow their business and expand into other categories, as well as work with female artisans in other developing countries.
Meghan’s interest in investing began during the pandemic, a period when she had fewer opportunities to leverage paparazzi moments. Her first investment was in Clevr Blends, a vegan instant latte company. She now has between five and ten brands in her portfolio and views them as a complement to her emerging lifestyle brand, American Riviera Orchard.
“Investing in these brands has prepared me for this chapter where I’m focusing on investing in myself,” Meghan said.
She humorously refers to her venture-capital approach as “dolphin tank,” in contrast to “Shark Tank.” “These are friendly waters,” she added.
