Luxury company Mulberry, renowned for their leather goods, have announced they are to make their handbags more affordable.
Iconic Mulberry bags such as the Bayswater, Willow and Lily, can range from £750 (€911) to £2000 (€2,429), depending on the size and make.
The label plans to launch a new range which will start at (£495 or €600) but will also include “quite substantial” bags at less than £700 (€850).
Godfrey Davis, interim executive chairman for the high-end brand, has said that prices had got “out of line” with what customers are willing to spend.
Kate Moss pictured with the iconic Mulberry Willow bag (a tote and a clutch)
Although prices will decrease, Davis insisted that quality will continue to be of the utmost importance for the label saying: “That’s why our margin will be squeezed, we don’t compromise on quality”.
He warned shareholders that introducing the new cheaper bags will have “short term financial consequences ” but said it was “necessary to ensure the future strength of the Mulberry brand”.
“Following the recent change in management, we are focusing on achieving sales growth through the reinforcement of our product offering at more affordable prices to meet the expectations of our loyal customers,” he added.
The new range is set to land in June and we are VERY excited.
