Mulberry Group PLC - Re Investment Talks
June 09 2000 - 3:00AM
UK Regulatory
RNS Number:9623L
Mulberry Group PLC
9 June 2000
MULBERRY GROUP PLC (THE "GROUP")
Mulberry announced today that they are in talks with Club
21, an international organisation specialising in luxury
goods and fashion, with a view to their making a
significant investment in the Group. Club 21, owned by
B.S. Ong and Christina Ong, works with a large number of
luxury brands in Singapore and the Far East. They also
have substantial retail interests in the USA and the UK.
Roger Saul, Chairman and Chief Executive of Mulberry
commented: "We have had a remarkable turnaround in our
trading position in the last 6 months and will show a
small profit in the second half of the financial year
ended 31 March 2000."
Mulberry's UK retail trading performance has run counter
to the overall trend in the high street with an 11 per
cent. like for like increase in sales in the first 16
weeks of the current Spring/Summer season. This reflects
the group's concentration on its core leather goods
business and the growing influence of English design in
the global fashion market.
Roger Saul said: "Our prospective partners have
considerable international and transatlantic experience
in our field. Expansion in the United States and Far
Eastern markets is a major priority for us."
For further information:
David Wynne-Morgan
WMC Communications Tel: 0207 591 3999
END
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