Mulberry CEO Unveils Turnaround Strategy Amid Sales Decline

Andrea Baldo plans to cut jobs and refocus on core markets to restore profitability.

Mulberry reported a 19% drop in revenue to £56.1 million and a widened pre-tax loss of £15.7 million for the first half of the year.
New CEO Andrea Baldo, in office for three months, announced a strategic overhaul to streamline operations and improve financial performance.
The company will cut about 85 head office roles, focusing on creating a leaner structure without affecting retail or factory staff.
Baldo aims to renew the brand's relevance, prioritizing the UK market and exploring growth opportunities in Europe and the US.
Mulberry plans to adjust its pricing strategy, aiming to offer more affordable luxury products to broaden its consumer base.