Mulberry news and archive

Mulberry secures 20 million pound fundraising as full year sales take hit

Mulberry has confirmed a 20 million pound fundraising and Retail Offer as sales for the British accessory brand continued to slip in fiscal year 2025. The company conducted the fundraising by way of subscriptions for 20 million new convertible loan notes of one pound each, backed by its two major shareholders, Chalice Limited and Frasers Group....

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Mulberry eyes 20 million pound fundraise as transformation plan progresses

British brand Mulberry is looking to raise 20 million pounds of additional capital in a fundraising to back its growth strategy as its ongoing transformation plan progresses. It comes “in light of an even more challenging trading environment seen at a macro level”, the group noted. In a regulatory filing, the luxury accessory label said, with...

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Mulberry CEO announces turnaround plan, appoints new CFO

The chief executive officer of Mulberry, Andrea Baldo, has announced the launch of a turnaround plan after concluding a strategic review of the company. Under the title ‘Back to the Mulberry Spirit’, the British luxury label’s new strategy intends to return it to profitability “through simplification, brand realignment and enhanced customer...

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Mulberry group finance director to resign

Charles Anderson, group finance director at Mulberry, has announced his intention to resign from the British luxury brand. He will step down from the board with effect from 31 January 2025, but will remain in a supportive role until 1 August to assist with the handover and transition. In a regulatory filing, Mulberry said that its board has...

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Mulberry: H1 losses widen and revenues decline by 19 percent

British handbag maker Mulberry reported a 19 percent decline in revenues to 69.7 million pounds for the six months to September 30, 2024, while the company’s losses widened by 23 percent to 15.7 million pounds. Mulberry appointed Andrea Baldo as its new chief executive in September. Commenting on the half year trading, Baldo said in a statement:...

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British heritage brand Mulberry faces painful restructuring

The once-celebrated British leather goods house Mulberry is set to slash nearly a quarter of its corporate workforce, eliminating 85 positions from its 350-strong staff base, according to Business of Fashion. The dramatic restructuring follows a failed takeover attempt by Frasers Group and signals a bid to return to profitability through...

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Frasers Group abandons Mulberry bid amid governance tensions

Frasers Group has withdrawn its pursuit of British luxury brand Mulberry after facing unanimous rejection of its proposed 150p per share offer, highlighting growing tensions between the retail conglomerate and the heritage label's board. The Mike Ashley-founded group, which has been strategically pivoting towards premium retail through...

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Mulberry non-exec announces departure

Luxury label Mulberry has announced that its long-time non-executive director, Julie Gilhart, will not be seeking re-election at the next annual general meeting. As such, Gilhart, who has come to the end of her current term, has opted to stand down as a director following the conclusion of the meeting. In a regulatory filing, chairman of...

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Mulberry founder suggests LVMH ‘step in’ following Frasers offer

A week on from when Frasers Group brought forth a takeover offer for Mulberry, the founder of the luxury brand has come forward with his own take on the situation. Roger Saul, who founded the firm in 1971, has suggested that French luxury giant LVMH would be a more appropriate suitor for a takeover of the brand, which has now entered an offer...

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Frasers Group increases shares in Mulberry following offer rejection

Just a few days after the British luxury leather goods brand Mulberry rejected a takeover attempt by the British retail group Frasers Group Plc, Frasers has now increased its stake in the traditional British brand. As revealed in a statement, Frasers subscribed to 3.96 million shares at a price of 100 pence per share. Mulberry, which is listed...

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Mulberry rejects Frasers Group takeover bid

Luxury brand Mulberry has said that it has rejected a takeover bid made by Frasers Group after consulting with the company’s 56.1 percent shareholder, Challice Limited. Frasers, which currently holds 36.8 percent of Mulberry’s shares, made an offer on September 30 to purchase the entire issued and to be issued share capital of the brand that it...

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Frasers makes bid for Mulberry following lacklustre FY24 and capital raise announcement

Frasers Group has announced that it has made a bid for the struggling luxury brand Mulberry on the back of the company’s FY24 financial report in which it revealed that there was a “material uncertainty going concern”. Frasers, which currently owns 37 percent of the British brand’s shares, said it would “not accept another Debenhams situation...