Mulberry ending runway show
By Kristopher Fraser
May 26, 2017
Mulberry has been playing financial tango lately. In 2015, the brand saw a steep decline in profits, to see profits increase after a price in handbag cuts last year, but it still wasn't enough to return the brand to peak financial performance.
In their latest efforts for a financial turnaround, the brand has announced they will be forgoing show at London Fashion Week, and will instead adopt a see-now-buy-now model. Mulberry will show their spring 2018 collection in private appointments with buyers and press.
"Mulberry has always been focused on offering a real and accessible lifestyle," said CEO Thierry Andretta in a statement to British Vogue. "The shift announced today enables us to continue to drive engagement and increase our relevance to our customers. Our strong omni-channel, retail-led business ensures we are well placed to align our collection launches globally and support growing consumer demand for immediacy."
Mulberry's figures have been on upward trend, with first-half revenues up 10 percent from the same period last year. However, runway shows can be costly, and going direct-to-consumer is a money saving approach for many companies.
While Mulberry has tried everything over the past several years, including raising prices (which caused customers to balk), and hiring It girl model Cara Delevingne, this new direct-to-consumer approach might be the magic formula they need to get the brand at the financial level they want it to be.photo: via Mulberry Facebook