So Mulberry interim executive chairman Godfrey Davis, still lacking a CEO and Creative Director, has announced a change in strategy: they are going more accessible. You’d think maybe they would wait until those two leadership positions were filled to discuss this sort of thing, but hey – a brand’s gotta do what a brand’s gotta do, at least when speaking to financial analysts about profit warnings. And generally, I think this is move in the right direction. After all, with Benard Arnault charging full-bore at the top end of the market with his stable of brands, wherein also resides Hermes, Chanel, and Bottega Veneta, and Ralph Lauren announcing his plans to go luxury, it’s looking pretty crowded up there. On the other hand, ask those analysts the Mulberry folks were talking to about the success of, say, Michael Kors, and they will site the fact that Mr Kors was smart enough of take advantage of that great open high middle that Mr Arnault and co had left vacant. The space is still unpopulated enough that Mulberry may be able to find a home.
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