Mulberry cuts jobs in Somerset in ‘rebuild’ after sales plunge

Published On Nov 19, 2024, 8:19 AM

Mulberry, a luxury fashion brand, is facing significant challenges after reporting a 19% decline in sales over the past six months. In response, the company is implementing a restructuring strategy, which includes cutting 85 jobs, about a quarter of its workforce. This comes amid a broader downturn in luxury spending globally. CEO Andrea Baldo expresses confidence that the company is taking necessary steps to achieve profitability despite the difficult trading environment, particularly in the UK market where consumer confidence is low.