LONDON, United Kingdom — Mulberry Group Plc, the U.K. luxury bag maker that recently parted company with its chief executive officer, reined back profit estimates for the second time in less than three months and said a plan to boost sales with more affordable new products will weigh on earnings.
The Savigny Luxury Index fell 2.2 percent this month, as the standoff between the West and Russia over its annexation of Crimea sparked fears of a drop in luxury goods sales to valuable Russian tourists.
BoF compiles the most important professional moves of the week.
LONDON, United Kingdom — Mulberry Group Plc said Bruno Guillon will step down as chief executive officer after two years during which the British luxury handbag maker lost two-thirds of its market value.
Fashion folk love to chatter. So what were the topics that dominated the conversation this weekend at London Fashion Week?
LONDON, United Kingdom — Luxury fashion group Mulberry has unveiled a new collection of bags in collaboration with British model Cara Delevingne, hoping to improve its fortunes after a profit warning and problems overseas.
Lack of clarity over the luxury sector’s performance in 2013 and prospects for 2014 caused a dip in the first half of January, reports Pierre Mallevays of Savigny Partners.
LONDON, United Kingdom — Mulberry Group Plc fell the most more than a year in London after saying earnings will be “substantially below” estimates because of weak holiday sales in the U.K. and order cancellations in South Korea.
The Savigny Luxury Index lost ground in October, as consumer appetite for mega-brands continues to cool and management changes shake up the industry.