Mulberry Appointed Independent Director Thierry Andretta CEO

The Mulberry Group PLC (MUL.L), the UK's high-end leather product manufacturer, who appointed the new chief executive before July, yesterday raided the appointment of Thierry Andretta, the independent non-executive director of the incumbent group.

Thierry Andretta, with its rich experience in fashion and luxury goods industry, joined the Mulberry Group PLC board last June as chief executive officer of Buccellati Holding Italia SpA, Italy jeweler. Previously, it was chief executive officer of Lanvin SpA. It also served as the predecessor of Gucci, MOET & CHANDON, MOET & CHANDON, Hennessy, LV and other luxury brands and luxury goods groups.

At the age of 54, he will take up a new position in April 7th to fill the vacancy for a year after former chief executive Bruno Guillon stepped down.

Thierry Andretta is made in the statement.

PLC CEO feels "happy".

He pointed out that Mulberry has a manufacturing base in the United Kingdom and is truly a British brand.

With great potential for international development, we look forward to building great business alongside the group and the board of directors.

Former chief executive Bruno Guillon in March 2012, from the Herm s s International SCA (HRMS.PA) Hermes international group to Mulberry Group PLC two years later, the application of the strategy of high price and high-end positioning of the Herm Herm, Hermes and Hermes has been on the "affordable" route, so that the group has issued four successive earnings warning. During its incumbent period, the stock price has fallen 68%, and the market value has evaporated.

After announcing her resignation and becoming effective in March 2014, Godfrey Davis, former chief executive officer and non executive chairman of Mulberry Group PLC, returned to work as executive chairman and temporary CEO. The group's statement today said that Godfrey Davis would retire from the post of president after Thierry Andretta took office.

Earlier this week, it was revealed that Godfrey Davis maintained its participation in group governance on the 8 day after the new CEO and new creative director Johnny Coca 7, so as to ensure that the new management implemented the recovery route effectively.

In the first half of September 30, 2014, Mulberry Group PLC suffered a net loss of 1 million 110 thousand pounds, compared with a pre tax profit of 7 million 227 thousand pounds in the same period last year.

Revenue fell by 17% to 64 million 700 thousand pounds, of which retail channel revenue fell 9%, and international market growth was partly offset by a fall in UK sales.

Among them, the UK full store sales fell by 12% as tourists fell, while discount store sales plunged 23% due to high inventory clearance.

Gross profit margin fell 310 basis points during the period from 63% in the same period last year to 59.9%. The group said it was mainly due to investment in new factories.