Saxo Group Videos

Mulberry's cheap shot backfires

There are plenty of people who accused the British luxury handbag maker, Mulberry, of greed when it tried to break in to the highest end of luxury retail by upping its prices. After a series of profit warnings, it would appear it's learnt its lesson. Like-for-like sales in the ten weeks to June were down some 15 percent. Profits are down from GBP 26 million last year to GBP 14 million in 2014.

The company says it will introduce cheaper products in an attempt to win back customers. It's also looking for a new Chief Executive after Bruno Guillon quit in March. It's also looking for a new Creative Director. The Editor of Drapers tells Saxo TV's Lea Jakobiak in London that the company's facing another challenging year.

01:39 minutes
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