Meet the sisters who got dumped by their landlords and were down to their last £15,000 before they built an £8 million business
“There were a lot of tears,” Annabel Lui said, recalling that she and her sister talked for 15 hours about what to do. Their dad said "over my dead body."
Annabel and Emily Lui, two British sisters, faced financial ruin after their bakery business, Cutter & Squidge, lost significant accounts in 2014. With only £15,000 left, they decided to take a risk and opened a pop-up shop in London's Soho neighborhood. This bold move eventually led to the growth of Cutter & Squidge into a £8 million revenue business employing around 50 people.
Both sisters grew up working in their parents' Chinese immigrant restaurant, which ignited their passion for baking. Annabel, the CEO, and Emily, the COO, now face the challenge of scaling their family-owned business while preserving its Chinese roots. With 80% of their revenue now coming from direct-to-consumer sales, the company has seen a surge in gifting products, particularly around Chinese New Year, Diwali, Eid, and Ramadan.
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