Mulberry's CEO Exits Company
Posted Monday March 24, 2014 1:59 PM GMT
Times are tough for British brand, Mulberry.
Known for their luxe leather goods, the design house issued a third profit warning in January, their creative director, Emma Hill, stepped down in June after being with the label for six years, and now the CEO of two years, Bruno Guillon, has resigned.
The move into higher prices are to blame for Hill's departure last year. She was the mastermind behind the best-selling “Alexa” bag and later the “Del Rey” bag, both reasonably priced. However, since Guillion became CEO, costs skyrocketed hundreds of pounds.
The shocking news was released on Thursday, (March 19) and now the group’s non-executive chairman and former CEO, Godfrey Davis, will step in until the brand finds a replacement.
We’re betting Mulberry finds a successor sooner than later. Apparently, Davis has been with Mulberry since 2012 and tried bringing the brand more upmarket, but instead lost two-thirds of the company’s market value … ouch.
We’ll patiently wait to see what happens with their new handbag named after Cara Delevingne. We're hoping they can overcome the rough waters and enjoy smooth sailing for the future.