Trunki, the well-known children’s suitcase brand, has been sold in a deal thought to be worth over £12 million.
Founder Rob Law, who was once told his company was “worthless” on the BBC’s Dragon’s Den, has now sold over 5 million Trunki suitcases and built a successful portfolio of travel gear, with the group’s revenue growing 68 per cent to reach £6.4m in 2022.
On Tuesday, Law will announce the sale of Trunki’s parent company, Magmatic, to e-commerce firm Heroes, The Sunday Times first reported.
When asked by City A.M. what he would say to the Dragons who rejected his pitch, Law replied, “I don’t need to say anything, the success speaks for itself.”
Law said he will remain as general manager and the company’s sixty employees will keep their positions.
He said: “It will be business as usual, but the Heroes team will bring great technology that will help us to accelerate our digital sales and expand to America. There is a great opportunity to not only grow Trunki but help other brands acquire scale as-well.”
Heroes is a UK-based e-commerce company that has acquired several maternity and children’s brands since its founding in 2020, including the Boba baby carrier, Onco baby car mirror and the Baby Uma pram hooks.
Alongside his work at Trunki, Law will also continue to build his new company Aphelion Agency, co-founded with his brother in December 2021, which helps brands to grow on Amazon.