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Luxury Retailer Mulberry To Cut Prices

One of Britain’s best known labels, Mulberry may be having some financial problems. The label announces it will cut prices, while Burberry increases theirs. Read more here.

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Source: Mulberry

One of Britain’s best known labels, Mulberry may be having some financial problems. The brand issued a second profit warning in three months. After warning pre-tax profits for the year ending March 31 that revenue would be slightly below expectations, they plan to lower prices and slow down on the amount of new store openings for the year.

The brand has seen several departures of key personnel within the company – following the departure of Bruno Guillon, it’s chief executive officer, and Emma Hill, it’s creative director. But there could be light at the end of the tunnel , with more “affordable” new products on the horizon, sales could increase.

As Mulberry aims to lower prices amid slower sales, Burberry plans to increase sales due to strong sales in Asia and the strengthening pound. Watch this space.

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