Annual Profits Fell By 28%, Fears Of Luxury Sales Slowing

Less than P, there is a growing concern over the slowdown in luxury sales. The reason is that Mulberry (Mulberry) issued a financial report that its annual profit fell by 28%. A few days ago, the creative director of the company resigned and left the company to produce high-end handbags named after celebrities such as Alexa Chung. < /p >
Mulberry, who has issued two earnings warning in the past year, insists that the worst time has been said for P. "We have survived the pain of last year," said Roger, chief financial officer of the company, Roger Mather. < /p >
< p > at the time of the first profit decline in four years, more and more investors are pessimistic about the prospect of the luxury goods industry. The industry is struggling to cope with weak demand in Europe and signs of slowing growth in China. < /p >
Less than P, after the price increase and the launch of more than 1000 pounds of handbags, the outside world is concerned about whether it should abandon its "affordable luxury" foundation. < /p >
Mulberry P was also hit by the resignation of creative director Emma Hill this week. Hill has been hailed as the brand that transformed Mulberry. < /p >
P Bruno CEO Mulberry Bruno denied that he and Hill had clashed over strategic issues. "The strategy we are implementing now is built and created with management including Emma," he said. This is not what I conceived and executed alone. < /p >
< p > Gilon resigned from Herm s in March 2012 and joined Mary. He insisted that Mulberry did not misjudge the market. He said: "we have been very respectful in respecting DNA, respecting history and respecting the position of Mary. We have not forgotten our own essence. " < /p >
< p > he added that Mulberry's 60% handbag was priced at less than 1000, but there was also demand for higher priced products. The new Bayswater classic handbag priced at 1100 pounds is sold in many stores in two weeks. < /p >
< p > other luxury companies are also reporting slow growth. R my Cointreau, a French liquor group, released a report this week that the demand for Chinese restaurants and bars for its most famous Cognac Brandy (cognac) has slowed sharply in the past 6 months, although it expects that demand will eventually rebound. Italy fashion group Prada (Prada) reported a slowdown in profit and sales growth in the first quarter. < /p >
< p > the price of the company has fallen by nearly 2% to 930 pence. < /p >