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One of the down-sides to being declared an "It"-bag is what happens after the flurry of purchases slows down. The up-side for its customers, however, is that price can lower to meet the decelerated demand. Mulberry, the British company known for leather bags much-loved by Alexa Chung, Cara Delevingne and other fashion girls, is making price tags more affordable since profits took a hit. The issue, according to the company, was that retail prices crept up to compete with other luxury bags, but couldn't hang.
Godfrey Davis, interim executive chairman (replacing chief exec Bruno Guillon and creative director Emma Hill), told WWD the bags will be 15 to 20 percent cheaper than previous seasons beginning this June. "We want to give our loyal British customer a fair, attractive deal, a collection they can really sink their teeth into," he said.
· Mulberry Issues Another Profit Warning [WWD]
· To It or Not To It: Investing in a Fancy Handbag [Racked]