Mulberry cuts bag prices in sale after 50 percent profit losses

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Mulberry has secretly gone on sale after their profits were revealed to have fallen yet again. The British brand has failed to draw in customers with their cheaper range and are cutting prices.

mulberry-spring summer 2014-handbag collection-yellow tessie handbag-handbag.com
Mulberry has been forced to quietly reduce the prices of their high end handbags after their profits fell by the further 15%.

The British brand has had a disastrous year with an over drop of 50%.

We've had our eye on the problems at Mulberry for some time now, things looked especially worrying when they lost their creative director.

And it seems their efforts to claw their sales back from accessible brands like Michael Kors have not gone so well.

They launched their cheaper Tessie collection last month, and Mulberry chairman Godfrey Davis claims it's been well received.

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The Mulberry Tessie tote bag



"We have listened to our customers and are introducing attractive new products in the key £500-800 price range.

As a first step, we introduced the new Tessie collection two weeks ago which is proving popular.

While the business faces a challenging year, I am confident that we can build on Mulberry's solid foundations and unique brand positioning in the luxury market to restore growth in the medium term," Davis said.

Meanwhile they've launched a mid-season sale - not a usual move for Mulberry, who's bags carry over every season.

Mulberry's new SS15 collection




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