Mulberry Raises £20m From Shareholders After Sales Plunge Lower

Mulberry: Luxury fashion firm raises £20m from shareholders after sales plunge lower

Luxury fashion firm Mulberry has raised £20m from its largest shareholders as it revealed a plunge in sales over the past year.

Handbag maker Mulberry raises £20m from shareholders as sales plunge

Mulberry said revenues for the year to March 29 plunged by 21% to £120m, blaming a slowdown in the wider luxury market.

Mulberry raises £20m from shareholders after sales plunge lower

Bosses at the handbag maker said it has made ‘significant progress’ in its turnaround efforts.

Mulberry raises $27M to accelerate turnaround strategy

The funding round was announced at the same time the company reported a 21% revenue decline for its latest fiscal year.

Mulberry gets US $ 27 million funding to power its transformation plan amid revenue drop

The British leather handbag brand, Mulberry announced a funding of US $ 27 million amid a 21% drop in their annual revenue. Their funding was supported by Frasers Group and Challice but post the confirmation of funding, the brand’s share also fell by 5%. Amid their revenue fall from US $ 207 million in FY […] The post Mulberry gets US $ 27 million funding to power its transformation plan amid revenue drop appeared first on Apparel Resources.

Mulberry raises £20mn from shareholders to invest for growth; reports losses and falling turnover - InternetRetailing

Mulberry is to invest £20mn capital raised from existing shareholders in its growth strategy.  News of the fundraising from shareholders Challice and Frasers Group came as the upmarket leather goods brand reported a fall in revenues and a narrowing of pre-tax losses. Mulberry reported pre-tax losses of £31.8mn – down from a £34.1mn loss last year – on revenues of £120.4mn (-21%). Within that, UK and digital revenue fell by 20%.  Mulberry pointed…