Not really thought about my Mulberry Bayswater family until reading this piece by Laura Craik in The Telegraph today. [Like Russian dolls, I have the big fella weekend-away bag down to the teeny can-only-fit-my-iPhone size; bought, I hasten to add, before they got pricey; The Big Fella in Hong Kong 15+ years ago whilst pregnant with The Firecracker (all I wanted to eat in Hong Kong was egg and tuna sandwiches of all things; why she didn’t come out with gills and clucking, I’ve no idea. Anyhoo …)].
Mulberry's Bayswater combined aspiration, practicality, and affordability during its peak. Since then Mulberry has seen a decline in sales and relevance, in an industry that has been booming until recently. Mulberry, which was founded in 1971 by Roger Saul and his mother, Joan (who was ousted from the business in 2002), said international sales had increased by 7.2% but UK retail sales had dropped by 3.2% in the year to the end of March. The share price, which has fallen by almost 60% so far this year, declined by a further 4.5% in early trading on Wednesday. In January, Mulberry blamed the slowdown in demand for luxury spending and a lack of VAT-free shopping for a 9% decline in sales over its “golden quarter”, which included the Christmas shopping period.
Laura cites Mulberry’s recent strategic decisions, like price increases and lack of high-profile collaborations, which have not built any love with the consumer. Mulberry could perhaps rejuvenate its brand by seeking influencer partnerships, being more socially present and - they were already - investing in sustainable solutions ahead of the pack.
A great British brand with a unique identity and offerings should regain its position in the lucrative luxury handbag market. (In the meantime, at least The Firecracker doesn’t want to borrow my Mulbs, and they are very lovely bags).
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