The global fashion brand has been hit by a fall in demand for luxury goods during the COVID-19 pandemic.
Luxury brand Mulberry plans to cut 25% of its global workforce as the coronavirus pandemic causes a steep fall in sales for its upmarket fashion goods.
The London-listed company said it only expects a"gradual" recovery in demand from the deep slump caused by the uncertainty from theThe majority of the fashion retailer's 120 stores across 25 countries remain currently closed due to national lockdowns. Chief executive Thierry Andretta said the decision to close physical stores will have a"marked effect" on the business.He added:"Launching a consultation process has been an incredibly difficult decision for us to make but it is necessary for us to respond to these challenging market conditions, protect the maximum number of jobs possible and safeguard the future of the business.
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