Mulberry to go picking for a new chief executive as Guillon quits March 20, 2014 THE CHIEF executive of Mulberry has abruptly left the group after presiding over a string of profit warnings and falling sales at the luxury brand, it confirmed yesterday. Bruno Guillon, who joined from French fashion brand Hermes in 2012, has been criticised for alienating Mulberry’s core shoppers by pushing up prices in an attempt to [...]
Mulberry chief Guillon quits March 20, 2014 Bruno Guillon, the chief executive of fashion house Mulberry, has resigned “with immediate effect”. The store, which issued a profit warning in January, seeing shares plummet 25 per cent, will now be looking for a new leader. Godfrey Davis, who is a current non-executive chairman and has previously been chief executive, will hold the reins [...]
What you need to know before the open March 20, 2014 Following a broadly favourable Budget yesterday, then something of a curveball from Janet Yellen – her suggestions about the course of interest rates unsettling markets, European bourses are expected lower today, tracking Asian and US counterparts. Markets sold off sharply on talk that the Fed could raise rates by the spring of next year, and [...]
Cara Delevingne launches new Mulberry range February 17, 2014 MULBERRY has unveiled a new collection of bags in collaboration with model Cara Delevingne, as the luxury group attempts to revive its fortunes after issuing a second profit warning in less than a year last month. The Cara Delevingne Bag, which was launched yesterday as part of London Fashion Week, is the latest in a [...]
From the City to the catwalk: Not such a road less travelled February 13, 2014 LOVE isn’t the only thing in the air today, there’s also a heavy whiff of chic – London is about to be taken over by spindly legged, spectacularly-heeled, coconut water-drinking fashionistas as London Fashion Week kicks off. Over the next few days Somerset House will play host to the likes of Mulberry, Burberry and Vivienne [...]
The City’s got a brand new leather bag February 5, 2014 Satchels are back in business, showing off great British craftsmanship at its finest ORIGINALLY made in the 17th century to help Oxbridge students lug their books around, the humble satchel has nevertheless made an unexpected comeback in 21st century London. The buckled bags hav always been a distinctly British success story, made with hardy leather [...]
Mulberry takes £140m hit after profit warning January 29, 2014 SHARES in Mulberry plunged by more than a quarter yesterday, after the luxury fashion group issued its second profit warning in less that a year, blaming fierce discounting over Christmas and weak trading in Korea. The group, which has furnished the likes of Victoria Beckham with its designer handbags, said it now expects profits for [...]
Mulberry profit warning sends shares tumbling 27pc January 29, 2014 Luxury brand Mulberry has issued a surprise profit warning this morning, after Christmas trading in the UK got worse and wholesale cancellations in Korea were worse than anticipated. Shares have nosedived on the news, currently down well over 25 per cent. The fashion house, which has furnished the likes of Victoria Beckham and Katherine Jenkins [...]
Expansion costs turn profits at Mulberry sour December 5, 2013 PROFITS at Mulberry slumped by more than a quarter in the first half as the luxury retailer continued to invest in driving international expansion. The British handbag and clothing brand still has a relatively small presence overseas compared to some of its larger rivals, like Burberry, and has been pushing ahead with growth in key [...]
Bottom Line: Overseas is the only place for luxury to grow December 5, 2013 IN THE UK, Mulberry is usually mentioned in the same breath as Burberry, with both brands attracting big name stars to their catwalk shows and campaigns, and copycat handbags rife on the high street. But the comparison is somewhat unfair. Burberry – with a market cap of £6.5bn and 206 stores (excluding concessions) worldwide – [...]