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17th April 2014
10:44am BST
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.Explore more on these topics:
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