The boss of luxury retail company Mulberry says he needs to "rebuild the business", after sales dropped by almost a fifth in the past six months. The Somerset-based designer company told shareholders group revenues fell by 19% to £56.1m in the six months prior to 28 September.

Mulberry Group is aiming to sell most of its luxury handbags for less than £1,095 (S$1,853) to broaden the struggling brand’s appeal and boost sales, according to the new chief executive officer. Read more at The Business Times.

The boss of Mulberry has said he needs to “rebuild the business” as the luxury handbag maker revealed that sales plunged by almost a fifth over the past half-year.

Mulberry axes head office jobs in ‘rebuild’ after sales plunge - The new boss of the fashion company said he is simplifying the business in order to make it ‘leaner’ as part of a strategic overhaul.

Mulberry told shareholders that group revenues fell by 19% to £56.1 million for the six months to September 28. It said trading was challenging over the half-year in the face of