United Kingdom · China · Fortune Technology
Meet the sisters who got dumped by their landlords and were down to their last £15,000 before they built an £8 million business
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In 2014, Annabel, 40, and Emily Lui, 47, were down to their last £15,000 after a promising start to their bakery side hustle suddenly fell apart.
Key facts
- In 2014, Annabel, 40, and Emily Lui, 47, were down to their last £15,000 after a promising start to their bakery side hustle suddenly fell apart
- The entirely bootstrapped company expects revenue to grow another 12% this year and is aiming to cross £10 million by the end of 2027
- Hamper sales jumped 175% between June 2025 and June 2026, the company told Fortune
- Cutter & Squidge expects revenue to grow 12% this year after bringing in close to £8 million in 2025
Summary
“There were a lot of tears,” Annabel told Fortune, recalling that they sat on the sofa for what turned into a 15-hour conversation about what to do with their remaining savings, knowing there was no more money coming. That one shot was a pop-up of their own in London’s vibrant Soho neighborhood. Their pop-up eventually became the foundation for a business that has grown to nearly £8 million in revenue as of last year. For Annabel, the CEO of Cutter & Squidge, and Emily, the COO, the challenge now is scaling a business shaped by their Chinese immigrant parents without losing the family identity behind it.