Mulberry

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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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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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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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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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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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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Mulberry revenues in line with expectations for FY23

Mulberry has revealed that for the financial year ended 1 April trading was in line with the group’s expectations, with revenues being “slightly” ahead of last year and profitability being weighted to the second half.  This comes as the group has seen an improvement in retail revenue over the second…

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Mulberry shutters Bond Street store amid end of VAT-free shopping

Luxury fashion retailer Mulberry has shuttered its Bond Street store after it claimed that the end of VAT-free shopping for international consumers has negatively impacted its sales at the location.  Last year chancellor Jerermy Hunt decided to implement the levy which now sees international visitors unable to claim back the…

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Mulberry reports £3.8m loss in H1

British sustainable luxury brand Mulberry reported a pre-tax loss of £3.8m in the first half of this year, down from a profit of £10.2m the year before, as UK sales saw a 10% decrease to £34.1m compared to £38m last year.   The group’s results are thought to have been impacted…

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Battersea Power Station confirms 14 October opening date

Battersea Power Station has confirmed it will open its doors to the public for the first time from Friday 14 October 2022. Electric Boulevard, a new pedestrianised high street, which runs from the south of the Power Station, between Frank Gehry’s Prospect Place and Foster + Partners’ Battersea Roof Gardens…

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