Mulberry take a step back again: in fact, they are going to cut footwear and apparel licences. Over recent days, the British group announced their decision to cut more than 450 jobs. At the end of June, rumours were that they would be about to shut one of the two English manufacturing plants. They have now publicly stated they will remove two licences with regard to Spring-Summer 2021 collections. For the records, Onward Luxury Group design and make both collections. On top of that, the British brand is supposedly planning to close down its offices in Paris and Hong Kong.
Mulberry cut licences for footwear and apparel
Mulberry take up again from their starting point, that is, leather goods. Such segment drives about two thirds of the overall turnover. In the meantime, they keep making jewellery and glasses. Actually, as reported by Fashion Network, the suspension of prêt-à-porter collections apparently dates back to last March: at that time, the brand announced the leaving of creative director Johnny Coca. Mulberry changed their mind and backed off the strategy formerly implemented by Chief Executive Officer Thierry Andretta, who wanted to create new product segments in order to turn the fashion house into a global lifestyle brand. Yet, unfortunately, a downturn in sales, alongside the subsequent pandemic, caused by Covid-19 outbreak, have turned his plans upside down.
Expectations
Mulberry are going to make public the results regarding the last financial year in August, yet they “will issue, in a timely manner, a notice about results to confirm the date”. In the last few months, one of Mulberry highlights was undoubtedly, among others, the leaving of creative director Johnny Coca, as we said earlier. Since June 2nd, he has been working at Louis Vuitton as women’s accessories director. Still the British brand has not announced who is going to replace him.
Read also:
- CRV effect: Mulberry cuts over 450 employees, Marc Jacobs 60
- Mulberry closes 1 of the 2 Engish plants, says Drapers
