Mulberry Group Unveils Profitability Plan in UK and US

Focus on UK and US Markets

Mulberry Group, the British luxury brand, has announced a new strategy aimed at returning to profitability. The plan includes strengthening its presence in the UK, accelerating growth in the US, and realigning operations in Asia with a reduced emphasis on China.

Cost Reduction Measures

The company is targeting a 25% reduction in operating costs on an annualized basis compared to 2024. This includes streamlining operations and restructuring underperforming areas.

Leadership Changes

As part of its strategic overhaul, Mulberry has appointed Billie O’Connor as its new finance chief.

Financial Challenges and Workforce Cuts

Mulberry reported a 19% decline in revenue for the first half of 2024, with significant sales drops in the Asia-Pacific region, particularly in China and South Korea. In response, the company is cutting 85 corporate roles and reassessing store locations in weaker markets.

CEO’s Vision for the Future

Newly appointed CEO Andrea Baldo, who took over in July 2024, is leading the company’s transformation efforts, focusing on simplifying operations and repositioning the brand for sustainable growth.

“Mulberry Group Unveils Profitability Plan in UK and US”