Mulberry, which is aiming to achieve £200m in annual revenues over the medium term as part of its Back to the Mulberry Spirit strategy, is planning to raise £20m to help fund its ambitions.
Andrea Baldo, CEO, Mulberry said: “When I outlined our strategy in January, I set out a clear two-phased approach. In the near term, we are firmly in turnaround mode – focused on rebuilding profitability and gross margin, whilst strategically investing in brand-building initiatives.
“Since then, we’ve taken decisive steps to improve performance and lay the groundwork for sustainable growth. These include securing UK distribution deals with Flannels and John Lewis, expanding international reach through new doors in Nordstrom (US) and David Jones (AU), and enhancing our product offer by growing our icon families in full price stores and optimising our inventory levels for outlet stores.”
He added: “Alongside this, we’ve taken action to reduce costs – restructuring head office and exiting unprofitable stores – delivering a lower run-rate cost base into FY26.”
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