I have just seen Mulberry’s advert for autumn winter 2014 and its visually stunning.
Mulberry has really been on a roller coaster ride these past few years and I think its finally finding its feet in new world of fashion.
Mulberry has truly gone back to its roots of British Country Heritage with this collection and I feel its a step in the right direction for the label, it features houndstooth, tweed, leather and arran inspired knitwear.
In 2000 the company sold almost 42% to the luxury fashion brand Ong Beng Seng. This seemingly pulled Mulberry out of the british heritage time warp it seemed to had been stuck in. The Ongs took the brand over seas to America and heralding a return to profitability in 2001 with revenues of $39.7 million. Mulberry released a statement explaining that it had been a hard decision to sell a proportion of the brand as they wanted to keep their heritage truly British, but they wanted to expand the label. They aimed to keep at least 35% of the manufacturing in the UK.
It was Bruno Guillon former chief executive of Mulberry also formerly managing director of Hermes France, decision to take the brand in a more elite, exclusive direction that really lost Mulberry its valued customers. Guillion wanted to make Mulberry in the same league as Hermes, Dior and Chanel. But this was a really huge mistake as Mulberry didn’t establish themselves as an elite brand. Mulberry’s main image is affordable Luxury. Consumers like goods that are slightly out of their price range but still within reach. This is why Mulberry has been so successful. But Bruno inflated the prices to an unreachable amount, therefore loosing valuable customers. It was well reported to consumers how much Mulberry was loosing annually, consumers were appalled in the fact it was the same bags, same materials, same manufacturing process yet a much much higher price.
In 2014 Mulberry finally listened to the consumers and agreed to reduce the prices back to the original pricing structure in order to try and win back their audience. This is an on going process.
The brand still has a massive following and their annual sale is still as popular as ever. But we can only put the price increase down to experimental purposes and be grateful that Mulberry listened to feedback and there profits warnings. They turned it around very quickly once they realised this.
I think Mulberry will continue going from strength to strength and continue on the amazing journey it is on.