CEO Of Luxury Group Mulberry Announces Resignation

BrunoGuillon, P, chief executive officer of MulberryGroupPLC, British luxury group, announced its resignation.

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< p > BrunoGuillon2012 in March, from Herm sInternationalSCA sInternationalSCA a href= "http://www.91se91.com/news/index_c.asp" > Hermes > /a > International Group to MulberryGroupPLC Mai Bao Rui, during his two years in office, MulberryGroupPLC shares fell 68%, and the market value evaporated.

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< p > MulberryGroupPLC (MUL.L) < a href= "http://www.91se91.com/news/index_c.asp" > Mai Bao Rui < /a > issued three profit early-warning in the past 20 months.

Last year, at the end of January this year, BrunoGuillon's high price and high positioning strategy for MulberryGroupPLC (MUL.L) Mai Baorui lowered the competitiveness of the group and missed a large number of customers. Because of the fierce competition in the holiday season in late 2013, brand sales in the UK dropped by 3% in the first 17 weeks of 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 the brand. The consumption of the Korean consumer fell in the deep recession. Many luxury goods were withdrawn from the market, and the increase in the price of Mulberry Mai Bao Rui obviously increased the consumer price of the market.

The Group expects that pre tax profits in the 2014 fiscal year as of March 31, 2014 will be much lower than market expectations. The market expected the group's annual profit to be 27 million pounds, and expected wholesale income to drop 10% last year.

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< p > according to relevant data, in the 2014 half year of September 30, 2013, MulberryGroupPLC (MUL.L) Mai Baorui net profit fell 31% to 5 million 70 thousand pounds, and pre tax profits fell 28% to 7 million 230 thousand pounds.

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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 the Mulberry Mai Po Rui low-end products, cancelled its original discount shop opportunities, and pushed the full price store. In addition, Mulberry Mai Rui has begun to take the initiative to reduce wholesale business and take full price strategy to improve its profit margin.

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The strategy of < p > a href= "http://www.91se91.com/news/index_c.asp" > BrunoGuillon < /a > is to turn Mulberry's "affordable" luxury into expensive luxury goods for the rich, especially for Asian tourists.

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

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Tang Xiaotang, an analyst with luxury goods and apparel retail industry, said, "BrunoGuillon should be the biggest" sinner "of Mulberry. Mulberry is hard to develop into the highest brand of the company with its current brand awareness. BrunoGuillon's stubbornness and misjudgement make Mulberry miss the opportunity to grow."

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< p > in today's announcement, MulberryGroupPLC (MUL.L) Mai Baorui said that the former CEO of the group and now the non executive chairman GodfreyDavis will take the post of executive chairman until the chief executive is elected.

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When the deadline was < p >, MulberryGroupPLC (MUL.L) rose 1.26% in early trading on Tuesday and reported 644.5 pence.

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