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The Cheaper Bag Built To Save Mulberry Starts At $860

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Back in April, Mulberry announced plans for a lower-priced handbag line to offset slowed profits after Mulberry's "It" bag was demoted from "It" status. The less expensive line, Tessie, is finally available to be viewed on Mulberry's site and is expected to go on sale later this week.

While the line does carry a cheaper price tag, the Telegraph notes that it's still not able to compete with most designer "entry-point" handbags, which usually ring in at around $400. The four Tessie styles range from $860 to $1,190, but if that's still too hard to swallow the line also includes leather bracelets going for $215 and key rings priced at—brace yourself—$120. Will it be enough of a price drop to bring back Mulberry's customers? If not, they'll have to go with plan B, in which Cara Delevingne's bunny Cecil models the line.

· Can Tessie turn around Mulberry's financial fortunes? [Telegraph]
· Mulberry Bags Are About to Get a Little Less Expensive [Racked]
· To It or Not To It: Investing In a Fancy Handbag [Racked]