Fashion is an industry of rarity, but the news late last week from Mulberry may be the rarest thing we’ve seen in recent memory. On the heels of former CEO Bruno Guillon’s exit, the company has announced it will return to a price structure similar to the one it used before he took the helm of the brand two years ago. In real-world terms, that means one very important thing to bag lovers: Mulberry’s bags are about to become significantly less expensive.
Guillon, who had come to Mulberry from the ultra-luxury environs of Hermes, set about making Mulberry’s bags more exclusive and desirable chiefly by making them more expensive. Not only did that tactic alienate (and eventually drive out) popular and successful creative director Emma Hill, but it also turned off a lot of the brand’s longtime customers, who relished the brand’s position as a mid-market supplier of It Bags for It Girls and grown women alike.
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