Mulberry
This coverage examines Mulberry’s strategy, operations, and performance in the UK luxury retail and accessories market. Reporting covers store launches, financial results, sustainability initiatives, leadership changes, and brand positioning. Aimed at retail executives, buyers, and brand managers monitoring premium fashion trends, consumer demand, and competitive dynamics in the luxury sector.
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Jan- 2024 -17 JanuaryClothing & Shoes
Mulberry revenue falls 8.4% amid luxury spending slowdown
Mulberry has revealed that its group revenue dropped 8.4% for the 13 weeks ended 30 December 2023. The company stated that this was impacted by the challenging macroeconomic backdrop and decline in luxury consumer spending. Mulberry also revealed that in the run up to Christmas it maintained its full price…
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Nov- 2023 -30 NovemberNews
Today’s news in brief-30/11/23
Castore has successfully secured a £145m investment in a funding round led by Raine Partners. This investment aims to further disrupt the premium sportswear market and expand the brand’s global reach. Castore plans to develop its product range, enhance infrastructure, and invest in its people. The company, on track for…
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30 NovemberLuxury Goods
Mulberry H1 losses leap 79% despite healthy revenues
Luxury fashion group Mulberry revealed that operating losses grew 79% to £10.4m, despite a 7% increase in revenues to £69.7m for the half year ended 30 September. The retailer also sustained an underlying loss before tax of £12.3m, which increased from £2.8m in 2022. This included £3.3m of SaaS costs,…
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Aug- 2023 -25 AugustClothing & Shoes
Quiz non-exec director steps down
Fast fashion brand Quiz has announced that non-executive director Charlotte O’Sullivan intends to step down from the board of directors on 30 November 2023. The decision to step down comes as O’Sullivan relocates overseas. Given this O’Sullivan will not be proposed for re-election as a director at the group’s annual…
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24 AugustPeople Moves
Mulberry appoints new non-executive director
British luxury brand Mulberry has announced the appointment of Leslie Serrero as an additional independent non-executive director, following the conclusion of its Annual General Meeting on 7 September 2023. Serrero, who is a French national, has extensive experience of luxury brand leadership. She has been an international managing director of…
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4 AugustLuxury Goods
Mulberry revenues up 4% in FY23 despite UK sales drop
The luxury handbag brand, Mulberry, has revealed that revenues increased 4% to £159.1m for the year ended 1 April, an increase from £152.4m recorded in 2022. While UK retail sales only reached £87.7m, after reaching £88.5m in the previous year, performance improved in the second half. The group attributed its…
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Jul- 2023 -3 JulyLuxury Goods
Mulberry turns down Mike Ashley’s attempt to join board
Mulberry has reportedly rejected Mike Ashley’s efforts to join its board, according to The Times. It is understood that in recent weeks the Sports Direct founder has met the luxury handbag retailer’s executive team to attempt to join the boardroom. This comes as he “grew frustrated” about what he believes…
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Jun- 2023 -28 JuneClothing & Shoes
Mulberry profits fall to £13.2m in FY23
Mulberry has reported that pre-tax profits fell from £21.3m to £13.2m in the year ended 1 April 2023, despite reporting that revenues rose by 4% to £159.1m over the same period. Its UK retail sales saw a slight decline from £88.5m to £87.7m however, as the first half of the…
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May- 2023 -23 MayClothing & Shoes
Mike Ashley set for Mulberry boardroom showdown
Mike Ashley could be set for a boardroom showdown with the majority shareholder at Mulberry, according to reports from The Telegraph. The outlet reported that Frasers owner Ashely has recently requested a voice in the boardroom at the luxury fashion retailer after senior members at Frasers met Mulberry chairman Chris…
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17 MayDepartment Stores
Harrods boss calls for return of VAT-free shopping for overseas visitors
The managing director of Harrods, Michael Ward, has called on the government to rethink its removal of VAT-free shopping for overseas visitors in a bid to boost luxury shopping in London. Ward, who is also the chairman of Knightsbridge Partnership, told The Times: “We’re in the middle of a difficult…
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