Reported about 15 hours ago
UK's Mulberry Group plans to realign its operations by reducing its presence in China and concentrating on the UK and US markets to enhance profitability. This move comes as the luxury brand faces challenges such as declining demand in China and aims to simplify its business model, following a significant drop in sales in Asia Pacific. The company's revenues fell 18.3% recently, although sales in Europe and the US saw an 11.1% increase.
Source: YAHOO