It’s less Beijing and more Brum for the new boss of posh handbag group Mulberry.
Andrea Baldo wants to recapture the glory days of Brit-Chic, when its slouchy Alexa bag was seen on the arm of every It Girl, in a bid to restore the company’s fortunes.
He joined in July and plans to double down on Britishness. The Italian wants to open more shops in the UK following a period of targeting Far Eastern consumers.
In the 2010s, Mulberry’s British vibe, born of its 50 years of Somerset manufacturing heritage, made the Alexa and Bayswater bags must-haves.
It will mean less reliance on China, where the taste for luxury goods has ebbed away. Baldo hopes to open a Birmingham store as part of the shift in focus.
Investors are irate over a slump in sales and profits. Baldo faces a considerable challenge.
He is understood to be ready to mend fences with Mike Ashley, whose Frasers group has a 37 per cent stake.
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