British fashion house Mulberry (LSE:MUL) has secured £20 million ($27.1 million) in fresh funding, the company revealed on Thursday, with backing from its two primary investors — Challice and Frasers Group (LSE:FRAS).
The capital injection comes at a critical moment for the luxury brand, which reported a 21% year-over-year decline in annual revenue. In response to the announcement, Mulberry’s stock price slid 5.1% in Thursday trading.
Alongside the funding news, Mulberry announced a key boardroom change: James France, an executive at Frasers Group, has joined its board of directors.
The move signals a deepening relationship between Mulberry and Frasers, as the retailer seeks to navigate challenging market conditions and reposition itself for long-term growth.
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