The Departure Of Mulberry’s CEO Might Just Be A Step In The Right Direction
After years dominating the luxury accessories market, things have moved from bad to worse for Mulberry and all very quickly.
Emma Hill left her post as creative director last year amid rumours of conflicts with bosses about the direction the brand was heading and the label is yet to find a replacement. And then there’s the worrying sales figures that have plagued the label ever since, culminating in it issuing a profit warning back in January – it’s third in as little as 18 months. The latest shake-up comes as the label’s CEO of two years, Bruno Guillon, has resigned with immediate effect.
WWD broke the news on Thursday morning, confirming that Godfrey Davis, the group’s non-executive chairman and former CEO, will step into Guillon’s role temporarily while the company looks for a replacement.
The reality is that his departure was bound to happen. Joining from Hermès in 2012, Guillon has been determined to take the brand down a more high end route but it’s backfired. The dramatic rise in prices have completely alienated the brand’s loyal customer base and the bags have failed to get the traction from the high spenders that Guillon was obviously trying to appeal to. The numbers speak itself – during his tenure, Mulberry has lost two-thirds of its market value, according to Bloomberg.
With him gone, this might be the fresh start that Mulberry needs and might go some way in helping it to get back on track because let’s face it, those Cara Delevigne-designed bags aren’t going to do it.
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