Frasers Group Makes a Move on Mulberry Amidst Sinking Sales: Is It Shopping for a Deal?

“As sales dip at Mulberry, Frasers Group submits bid to buy out brand”

“British fashion house Mulberry is facing takeover interest as the luxury brand struggles during the pandemic, despite its slow transition to direct-to-consumer sales.” Isn’t it just a riveting rollercoaster in the fashion industry?

Mulberry, the darling of British haute couture, seems to be wobbling on its proverbial stilettos thanks to the pesky pandemic. This is in spite of attempts to directly court consumers which, on hindsight, looks as effective as a rain dance in the Sahara.

Enterprising sports and retail group, Frasers Group, have expressed their intent to buy the beleaguered brand. This group, best known for owning Evans Cycles and Jack Wills, now wants a slice of that fine leather bag market. As if the upmarket fashion world wasn’t already fascinatingly unpredictable.

Strikingly, Mulberry’s so-called pivot to direct-to-consumer sales has evidently been more of a labored pirouette than a nimble pivot. The brand, which was previously as buoyant as one of its Bayswater totes, reported losses of nearly £14.2 million for six months to September 2020.

Some say Frasers Group is playing the opportunist, dangling a lifeline to a drowning label. But, isn’t the world of fashion a merciless game of survival of the chicest? Mulberry has built its reputation on a golden tradition of beautifully-crafted products, it’s needless to say, desperate times call for desperate measures. And a little help from a sports brand might just do the trick!

So, what does this tell us? Well, it’s like watching “The Devil Wears Prada” in real-time, only the devil, in this case, might be trading in their Prada for Mulberry. It seems high fashion brands need more than just a prestigious label to ensure survival in a pandemic-struck market. Basically, this is a reminder of the harsh reality that even the highest echelons of fashion are not immune to the trials of the marketplace or the effect of global crises.

The outcome of all these? It remains fashionably unpredictable… as always.

Read the original article here:

https://www.luxurydaily.com/as-sales-dip-at-mulberry-frasers-group-submits-bid-to-buy-out-brand/