Mulberry CEO Resigns
Taking immediate effect, Guillon announced his departure on Thursday 20th March 2014, with Godfrey Davis previous CEO fulfilling his position until a replacement is found.
Guillon joined the British fashion house in 2012 following a role at Hermès International. Joining the fashion house during a particular rough time, Guillon aimed to target the brands recent low profits however without much luck, seeing a huge slump in the brands stock market value during his time, from £1.5bn to just £400m.
The British luxury fashion house recently announced a collection with model of the moment Cara Delevingne.
Photos via Mulberry
It’s reported that ex-creative director Emma Hill, in particular didn’t agree with Guillon’s efforts to push the brand upmarket. Seeing the usual Mulberry pricemark raise from around £500 for a bag to £900 with exotic and luxury new finishes.
In a statement released by the fashion house late last week, Davies, Bruno’s current replacement, commented on the CEO’s departure, “I along with the Board would like to thank Bruno for his hard work over the past two years.” Commenting that during his time Guillon had particularly helped in improving the quality of Mulberry’s offering and helped in growing and enabling appeal of the international markets.
It’s been a tough year for the British luxury group, as reports show that retail sales were 3% down compared to last year, issuing a third profit warning in January. This follows a huge cancellation order from Korea, one of the labels biggest wholesale clients, accounting for 20 percent of the wholesale business. Following the departure of Creative Director, Emma Hill, almost a year ago, the fashion house then had to cancel their regular slot showcasing at London Fashion Week.
Clearly keen to boost the sales and appeal of the brand, Mulberry recently announced a collaboration collection with model Cara Delevingne in place of their cancelled AW14 show.