 | |
| Company type | Public |
|---|---|
| AIM: MUL | |
| Industry | Fashion |
| Founded | 1971, in Somerset, England |
| Founder | Roger Saul |
| Headquarters | Somerset , England |
Area served | Worldwide |
| Products | Leather goods, accessories |
| Owners |
|
| Website | mulberry |
Mulberry Group PLC is a British fashion company founded in 1971, best known for its luxury leather goods, particularly women's handbags.
The company was founded in 1971 by Roger Saul and his mother, Joan. In 1973, they opened a factory in Chilcompton, Somerset, England. [1] The area was already well-known for leather fabrication, notably by Clarks shoes.
Mulberry established itself as a British lifestyle brand that was noted for its leather poacher bags, including the binocular bag and dispatch bag. The range includes male and female fashions, leather accessories, and footwear. Mulberry Group plc is listed on the London Stock Exchange as MUL, and shareholders with 500 or more shares are entitled to a 20% discount at Mulberry's shops. [2]
In 2000, Saul recruited Scott Henshall as Mulberry's Creative Director. At that time, the company was in the red and Henshall was enlisted to transform the company. He produced jewel items and was responsible for the fashion and accessory collections, as well as Mulberry's rebranding and advertising, where Henshall chose Anna Friel as the face of Mulberry. He placed the brand on major celebrities, including Victoria Beckham, Kate Winslet, Cameron Diaz and Zara Tindall. Henshall departed from Mulberry in 2001 to focus on his own mainline collection.
In 2006, Mulberry launched an apprenticeship programme to encourage local youths to learn production skills, and to provide training and employment for the local community. Apprentices that graduate from the programme are offered a job at the factories in Somerset. [3]
The company reported revenue in 2012 of £168.5 million, [4] and an operating income of £35.4 million, with a net income of £36.0 million. [5]
In 2013, Ian Scott, director of a group supply at Mulberry Chilcompton Somerset, was interviewed by Luke Leitch of The Telegraph. He stated that many items (including all men's bags) are made in three Turkish factories also used by brands including Dunhill and Givenchy. The "small leather goods" (such as purses, wallets and phone-holders) are made in China, as is the Mulberry scotch-grain luggage.
Designer Emma Hill joined Mulberry in 2007. Hill was credited with creating items for the company such as the Alexa Chung handbag. Profits for the firm were initially strong after Hill's appointment, however the brand struggled during the credit crisis, and has issued two profit warnings in the past year. In June 2013, it was announced that Hill would be leaving the brand due to creative differences. Company share prices fell in the wake of the announcement. [7]
During the year 2014, four new directly operated stores were opened in the US and in Germany, one new concession was opened in France and the Stansted Airport store was temporarily closed due to the redevelopment of the terminal. As of 31 March 2015, there were 70 directly operated stores.
For the year ended 31 March 2015, the Mulberry Group announced that the company’s total revenues were 148.7 million pounds (229.5 million dollars), down 9 percent from 163.5 million pounds (252.5 million dollars) in 2013, reflecting a small growth in retail sales which was offset by a decline in wholesale sales. [8]
In March 2017, Mulberry launched its Mulberry Asia business with Challice, a joint venture partner. In July 2017, Mulberry signed a deal with Onward Global Fashion in Japan to form a joint venture named Mulberry Japan, to be headquartered in Tokyo. [9]
In October 2018, the shareholder discount scheme was changed with the qualifying shareholding increased from the original minimum of 250 shares to a new minimum of 500 shares. [10]
In February 2020, Mike Ashley's Frasers Group bought a 12.5 per cent stake in Mulberry, said by a business journalist for The Times to be worth around £19 million. In May 2023 has upped to 37%. [11] In October 2024, Frasers Group made two unsuccessful bids to acquire the company for up to £111 million, but they were rejected by Mulberry's majority investor, Challice, which owns 56.4 per cent of the company. [12] [13]
Mulberry has stores throughout the UK and all over the world including Europe, the US, Australia and Asia. It has registered offices in Somerset, London and New York City. Mulberry continues to make designer leather goods at its original Somerset factory, called The Rookery. In summer 2013 Mulberry's second factory, also based in Somerset, started production. [14] It was formally named 'The Willows' in March 2014, after the nearby Willow Man sculpture. [15]
Prada S.p.A. is an Italian luxury fashion house founded in 1913 in Milan by Mario Prada. It specializes in leather handbags, travel accessories, shoes, ready-to-wear, and other fashion accessories. Prada licenses its name and branding to Luxottica for eyewear and L’Oréal for fragrances and cosmetics.
Compagnie Financière Richemont S.A., commonly known as Richemont, is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. Through its various subsidiaries, Richemont produces and sells jewellery, watches, leather goods, pens, firearms, clothing, and accessories. Richemont is publicly traded as CFR on the SIX Swiss Exchange and the JSE.
Louis Vuitton Malletier SAS, commonly known as Louis Vuitton, is a French luxury fashion house and company founded in 1854 by Louis Vuitton. The label's LV monogram appears on most of its products, ranging from luxury bags and leather goods to ready-to-wear, shoes, perfumes, watches, jewellery, accessories, sunglasses and books. Louis Vuitton is one of the world's leading international fashion houses. It sells its products through standalone boutiques, lease departments in high-end departmental stores, and through the e-commerce section of its website. Louis Vuitton merged with Moët Hennessy in 1987 to create LVMH, of which it is a subsidiary.
Katherine Noel Valentine Brosnahan Spade was an American fashion designer and entrepreneur. She was the co-founder and co-owner of the designer brand Kate Spade New York.
Hermès International S.A. is a French luxury design house and manufacturer established in 1837. It specializes in leather goods, silk goods, lifestyle accessories, home furnishings, perfumery, jewelry, watches and ready-to-wear. Since the 1950s, its logo has been a depiction of a ducal horse-drawn carriage.
Tod's S.p.A. is an Italian luxury fashion house specialized in footwear, apparel, and related accessories headquartered in Marche, Italy. Its core branding includes an oval nameplate and roaring lion, with signature brown and orange packaging. The company is an influencer in the Sprezzatura fashion movement. Its highest-selling products are pebble-sole “Gommino” driving shoes, leather (suede) loafers, boots, sneakers, and handbags.
An It bag is a high-priced designer handbag that has become a popular best-seller. The phenomenon arose in the fashion industry and was named in the 1990s and 2000s. Examples of handbag brands that have been considered "It bags" are Chanel, Hermès and Fendi.
Frasers Group plc is a British retail, sport and intellectual property group, named after its ownership of the department store chain House of Fraser.
Dame Anya Susannah Hindmarch, is an English fashion accessories designer who founded an eponymous company, of which she is CEO. Hindmarch published her first book, If In Doubt Wash Your Hair in May 2021, a Sunday Times bestseller.
Stuart Vevers is a British fashion designer. He graduated from the University of Westminster in 1996. His first job was at Calvin Klein, followed by Bottega Veneta, Givenchy and Louis Vuitton, where he worked with Marc Jacobs. He joined Mulberry as creative director in 2005 and was instrumental in the company's success, transforming their leather goods into the must-have bags. He has also collaborated with Luella Bartley and Designer of the Year, Giles Deacon. In 2006, he won the British Fashion Council's Accessory Designer of the Year award. In July 2007 it was announced that he had been appointed creative director of Loewe, and, on 25 June 2013, Vevers was announced to be the executive creative director at American label Coach.
Longchamp is a French leather goods company, founded in Paris in 1948 by Jean Cassegrain. The company pioneered luxury leather-covered pipes before expanding into small leather goods. Longchamp debuted women's handbags in 1971, becoming one of France's leading leather goods makers. Today, the company designs and manufactures leather and canvas handbags, luggage, shoes, travel items, fashion accessories, and women's ready-to-wear. The house is privately owned and managed by the Cassegrain founding family and does business in 80 countries through around 1,500 retail outlets.
Salvatore Ferragamo S.p.A., doing business as Ferragamo, is an Italian luxury fashion house focused on apparel, footwear, and accessories headquartered in Florence, Italy. It specializes in designing and manufacturing footwear and leather goods, which together account for over 86% of its revenue. The remaining products include ready-to-wear, silk products, fashion accessories, and licensed eyewear, watches, and perfumes. It operates 447 mono-brand stores worldwide as of September 2022.
Hidesign is a leather goods manufacturer based in Pondicherry, India. In 2018, the company had operations in 24 countries including the United States, United Kingdom, Australia, Kenya, United Arab Emirates, Spain, Portugal, New Zealand and Sri Lanka. The leather goods segment of Hidesign contributes to 160 crore of revenue.
Giuliana Camerino was an Italian fashion designer who founded the Roberta di Camerino fashion house in Venice, the only major Italian fashion brand to be based in the historic seafaring and trading city. The label is principally known for its velvet handbags, though it has also produced womenswear and shoes. Giuliana Camerino has been credited with creating the concept of the status bag.
Kate Spade New York is an American fashion house founded in January 1993 by Kate and Andy Spade. In 2017, the company was purchased by Tapestry, Inc., formerly known as Coach, Inc.
Radley is a London-based, British accessories brand which designs and manufactures luxury handbags, purses and other women's accessories for UK and international markets. The brand was founded by Lowell Harder in 1998.
Valextra is a brand of luxury leather goods and accessories based in Milan, Italy. The name is a portmanteau of "Valigia", the Italian word for suitcase, and "extra".
Lancel is a French Maison of luxury leather goods, founded in Paris in 1876 by Angèle and Alphonse Lancel and developed by their son Albert.
Coach New York, commonly known as Coach, is an American luxury fashion house headquartered in New York City & specialized in handbags, luggage, and accessories, as well as ready-to-wear. Coach licenses its name and branding to Luxottica for eyewear and Paris-based Interparfums for fragrances. Stuart Vevers has been the executive creative director since June of 2013.
Rebag is a New York-based retail platform, established in 2014, that operates both online and through brick-and-mortar stores. It specializes in the buying, trading, and selling of luxury handbags, accessories, watches, fine jewelry, shoes, and select apparel.
