Leather Brand Mulberry Executives Shake Luxury Sales Overall Recession

< p > 20 consecutive months issued three profit early-warning, the British leather brand MulberryGroupPLC began to reorganize management, appointed LVMH group's Berluti brand Europe and Middle East general manager StevenNewey as group business director, meanwhile, the service group 9 years responsible for supply chain director IanScott quit.

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< p > StevenNewey will formally join MulberryGroupPLC (LON:MUL) in May 1st to be responsible for retail, wholesale, online sales and other business businesses.

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< p > IanScott has deep experience in < a href= "http://www.91se91.com/news/index_c.asp" > raw material < /a > and procurement. It has played an important role in the MulberryGroupPLC (LON:MUL), which has been known as increasing the number of British made products.

The departure of IanScott is considered to be the CEO of group BrunoGuillon, and the strategy of Herm learning s Hermes is declared bankrupt, while MulberryGroupPLC (LON:MUL) shares rose nearly 2.6% in the afternoon of 6.

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< p > "joining the group for exactly 2 years BrunoGuillon should be the biggest" sinner "of Mulberry. Mulberry is hard to develop into the highest brand of Jili with its current brand awareness. BrunoGuillon's stubbornness and misjudgement make Mulberry miss the chance of growth.

Tang Xiaotang, an analyst with luxury goods and apparel retailing industry, said.

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At the end of January 2014, MulberryGroupPLC again released a href= "http://www.91se91.com/news/index_c.asp" > earnings warning < /a >, of course, estimated to drop 30%. So far this year, the group's share price has fallen by 31.17%, and over the past year has fallen by more than 50%, while MulberryGroupPLC (LON:MUL) share price has dropped more than 65% during the BrunoGuillon term.

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< p > according to relevant data, the net profit of MulberryGroupPLC (LON:MUL) fell by 31% to 5 million 70 thousand pounds in the first half of fiscal year ending September 30, 2013, which was 7 million 340 thousand pounds in the same period last year, and the pre tax profit fell 28% to 7 million 230 thousand pounds, compared with 10 million pounds in the same period last year. "2013/14"

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The high price and high positioning strategy of < p > a href= "http://www.91se91.com/news/index_c.asp" > Mulberry < /a "has led the group to take a large number of customers. Due to the fierce competition in the holiday season in late 2013, Mulberry sales in the UK dropped by 3% in the 17 weeks before January 25, 2014, while the British market accounted for 63% of the group's sales. In addition to the sluggish sales in the British market in the holiday season, the Korean market also cancelled the wholesale order of Mulberry. The consumption of the Korean economy, which was deeply depressed by the recession, declined, and many luxury goods withdrew from the market.

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< p > 2013, MulberryGroupPLC (MUL.L) Mai Baorui creative director EmmaHill announced the resignation before the group's 2013 fiscal year's earnings announcement. It was rumored that EmmaHill and BrunoGuillon had different opinions on the group's development strategy.

In December 2012, BrunoGuillon cut down Mulberry low-end products, cancelled its original discount shop opportunities, and pushed the full price store. Besides, Mulberry Mai Rui has begun to reduce wholesale business voluntarily, and adopt a full price strategy to improve its profit margin.

BrunoGuillon's strategy is to turn Mulberry's "affordable" luxury into expensive luxury goods for the wealthy, especially for Asian tourists.

He also wants to build this British brand into a world-renowned luxury product.

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< p > it is surprising that the Chinese government vigorously cracked down on anti-corruption in 2013, slowed down economic growth, and overall sales of luxury goods, and BrunoGuillon's wishful thinking did not start.

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