Mulberry Profit Falls After CEO, Creative Head Leave Bagmaker

Mulberry's Cara Delevingne bag range | Source: Nowfashion.com

LONDON, United Kingdom — Mulberry Group Plc, the U.K. luxury bag maker that’s lacking a chief executive officer and creative director, reported a second straight decline in annual profit amid weaker third-party sales at home and in Asia.

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Another Profit Warning From Mulberry; Shares Tumble Again

Mulberry Spring/Summer 2014 Campaign | Source: Mulberry

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.

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Mulberry Shares Plunge as Luxury-Goods Maker Sees Profit Setback

Mulberry Spring/Summer 2014 Campaign | Source: Mulberry

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.

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Market Pulse | Buying Designers Like It’s 1999

Savigny Luxury Index September 2013 | Source: Savigny Partners

The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.

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