Get the latest gossip

Mulberry cuts a quarter of HQ staff after sales slump and bigger losses

CEO says he will launch review to make company ‘leaner, more agile’ and the firm will ‘renew its relevance’

Mulberry is cutting a quarter of its head office staff, as the beleaguered British luxury handbag maker reported that half-year sales slumped by almost a fifth and losses had widened. Baldo, who has previously worked at the fashion brands Maison Margiela and Marni and was most recently the chief executive at Ganni, said he intended to complete a strategic review of the business next month. Frasers Group subsequently walked away from its pursuit of Mulberry and criticised management, saying it was “concerned about governance”, as market conditions put the company “in a very difficult financial position”.

Get the Android app