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.
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.
Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.
LONDON, United Kingdom — Mulberry Group Plc Chief Executive Officer Bruno Guillon has some catching up to do. After cutting forecasts twice in his first year at the helm, the 47-year-old CEO is pledging to return the British luxury-goods maker to growth in the next 12 months, even without the help of Mulberry’s celebrated creative director.
LONDON, United Kingdom — British luxury fashion group Mulberry defended its plans to move further upmarket, saying it was crucial to expansion plans in Asia, where local shoppers and outbound tourists are still spending heavily on top-end lines.
Following a flurry of high profile announcements, BoF’s editor-in-chief, Imran Amed, muses on the enduring importance of the creative director.
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) lost 1.5 percent in April, underperforming the MSCI World Index (“MSCI”) by almost two percentage points. Luxury spending in Europe has been hit by a drop in tourist demand, as well as price increases by brands seeking wider margins. The unusually cold weather, particularly in March, also contributed to weak demand for Spring/Summer ready-to-wear collections.