British fashion house Mulberry have reported a major dip in annual sales where profits have dropped from £36 million down to £26 million before tax. Chief executive Bruno Guillon says “There are many reason for these figures. Europe represents 80 per cent of our business and it isn’t a dynamic market at the moment.”
Guillon did state that the UK is still the brands main market saying “its where our roots are and it will always be a huge priority for us,” then added “But we need to go abroad and expand in key areas like the US and Asia, then we need to find the right products for those markets.”
The Alexa satchel was one of the brands best sellers bringing in 30 per cent of the sales, however the Alexa is now only responsible for 15 per cent. Guillon says “The Alexa is still a great bag, but we’ve managed to deliver new styles too – such as the Del Rey and Willow.” These bags were designer Emma Hill’s creation, however since her departure Guillon has stated that new collaborations wouldn’t be part of the brands new marketing strategy.