After The Price Is Reduced, The Mulberry Will Be Changed.

Mulberry's latest report shows that in fiscal year 2015, the company's total revenue was 149 million pounds, the total revenue in the last fiscal year was 164 million pounds.

Previously, former CEO BrunoGuilloni wanted to develop Mulberry's high-end market, with the highest price of up to 5500, and the result was unsatisfactory.

After BrunoGuilloni left, Mulberry decided to reduce the price of the handbag products and retrieve the core users in the UK.

"Last year, the board's strategy of reducing the price of handbags had been a slight result."

ThierryAndretta, chief executive officer of Mulberry, said: "we want to strengthen Mulberry's position in Britain and pursue sales increase in the international market.

Now, we want to focus on the value of this luxury brand and its British taste for more consumers around the world.

Previously,

Wholesale sales are expected to drop by 29% to 38 million 800 thousand pounds this year, so companies need to increase retail sales.

And the price adjustment strategy will take effect as well.

Sales of leather goods accounted for 90% of Mulberry's total revenue.

"Since the price adjustment in November, the company's sales have increased positively."

Mulberry chairman GodfreyDavis said.

Because the price adjustment strategy works, Mulberry will take this.

All products of the company, including shoes and ready-made garments.

In short, Mulberry found that handbags could sell better if the price of the handbag was adjusted to the price range of 500-1000.

Before, Mulberry's handbag price was above 1100 pounds.

After the price adjustment, the Mulberry handbag accounted for about 66% of the total number of products, compared with 45% last year.

The price adjustment strategy seems to have worked.

This year, Mulberry retail sales increased by 1% to 110 million.

The obvious change is that sales in the first half of this year fell by 9%, but in the second half of the year, the sales volume of the company increased by 9%.