Mulberry boss Bruno Guillon quits after two years at the helm of luxury giant
Departure comes two months after the company issued a major profit warning
Thursday 20 March 2014
Mulberry's chief executive has left the luxury handbags firm after two years at the helm.
The departure of Bruno Guillon, who joined the Somerset-based company from Hermes in 2012, comes two months after a major profits warning.
He will be replaced on an interim basis by former boss Godfrey Davis, who oversaw the rapid growth of the Mulberry brand between 2002 and 2012.
Mr Davis, who will revert back to his old role of executive chairman until a successor is found, said Mr Guillon had improved the quality of the Mulberry offering and increased its appeal in international markets.
He added: "I am confident that Mulberry has the heritage, brand appeal and products to build on what has been achieved."
The company issued a profits warning within months of Mr Guillon's appointment in March 2012 and in June last year announced that creative director Emma Hill was to leave the luxury handbag maker.
Following her appointment in 2008, Ms Hill was credited with turning the firm from a trusted briefcase and wallet maker into an international fashion powerhouse with a clutch of celebrity fans.
The company's best known product of recent times has been the Alexa bag - inspired by style icon Alexa Chung - while its Del Rey bag was inspired by American artist Lana Del Rey.
Mr Guillon said last year that after three years of rapid growth he was laying the foundations for turning Mulberry into a global luxury brand.
He pointed out that with over 80% of sales derived from markets where the economic climate remains difficult, Mulberry's challenge was to accelerate its brand awareness in the United States and Asia.
However its recent warning left Mulberry on course for another year of falling profits, having slumped by more than a quarter in the 12 months to last March.
Mr Guillon was previously managing director of Hermes France, a position he held for four years. He joined Hermes in 2001, having previously worked at LVMH and Nina Ricci.
Additional reporting by agencies
- 1 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 2 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
- 5 We have six months to save the world, says leading economist
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Sepp Blatter resigns: FBI are investigating outgoing Fifa president, claims report
Alton Towers crash: Four guests seriously injured as Smiler ride carriages collide
Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
Gay teenager 'forced to have sex with his own mother' to 'cure' his homosexuality, campaigners in India say
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...