Company Profile

Company information

Mulberry is an English design company renowned world-wide for its craftsmanship and quality. The brand's backbone is an extensive line of luxury fashion bags for men and women that combine stylish, stand-out design with the finest leathers and detailing. In addition to leather goods, Mulberry's product range includes womenswear, accessories and footwear.

The Group's principal activities are the design and manufacture or sourcing of products and their subsequent sale through wholesale channels or the Group’s own shops in home and export markets.

The Group trades internationally either directly through its own retail stores or through direct wholesale customers and partners. Its operations are largely based in the United Kingdom.

We have two large head offices in the UK, in Somerset and London. We also have two UK factories based in Somerset, known as The Rookery and The Willows.

Mulberry Group plc is an AIM listed company (registration number 1180514). The company is registered in England and Wales and the registered address is:

Mulberry Group plc
The Rookery, Chilcompton, Bath, Somerset BA3 4EH England

Please note, this section of the website contains information required to be disclosed by Rule 26 of the AIM Rules for Companies.

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Board information

Board responsibility

The Board is responsible for formulating, reviewing and approving the Group’s strategy; in addition it has overall responsibility for the budgets and corporate actions. The Board recognises the importance of high standards of corporate governance and supports the principles contained in the Revised Code, applying them where they consider them appropriate to Mulberry Group plc.

Nominations And Remuneration Committee

The Nominations and Remuneration Committee is chaired by a Non-Executive Director, Chris Roberts. The Committee is responsible for determining the remuneration and terms and conditions of employment of Executive Directors and senior employees of the Group.

Audit Committee

The Audit Committee is chaired by a Non-Executive Director, Steven Grapstein. The Committee may examine any matters relating to the financial affairs of the Group. This includes review of the annual financial statements prior to their approval by the Board, together with accounting policies and compliance with accounting standards, and of internal control procedures and monthly financial reporting, and other related functions as the Committee may require. The Non-Executive Directors have access to the Group's auditors and legal advisers at any time without Executive Directors being present.

Executive Directors

Godfrey Davis FCA, 65, became Executive Chairman on 19 March 2014, following Bruno Guillon’s resignation from the Board. He had previously performed the role of Chief Executive from 2002 until his appointment as Non-Executive Chairman during June 2012. He is a fellow of the Institute of Chartered Accountants in England and Wales and joined Mulberry as Group Finance Director in 1987 after 15 years at Arthur Andersen, where he was an international partner. He is a director of Pittards plc, Princedale Development Limited, King’s Schools Taunton Limited and Hestercombe Gardens Limited, and a trustee of Hestercombe Gardens Trust.

Roger Mather FCA, 49, is the Group Finance Director. He is a fellow of the Institute of Chartered Accountants in England and Wales having trained professionally with Price Waterhouse. He joined Mulberry during November 2007 after spending the previous 10 years in senior finance and commercial roles within the multi-national Otto Group based both in Hong Kong and the UK. He was appointed as a Director on 7 May 2008. He is also a director and trustee of Beaudesert Park School Trust Limited.

Non-Executive Directors

Andrew Christopher Roberts FCCA, 51, was Chairman of the Audit Committee until 7 May 2013 when he then became Chairman of the Nominations and Remuneration Committee. He was appointed to the Board on 6 June 2002. He is a fellow of the Chartered Association of Certified Accountants. He is a director of Como Holdings (UK) Ltd which has retail, hotel and real estate operations in the UK and was formerly Finance Director of an AIM listed financial services group. Como Holdings (UK) Ltd is a company ultimately owned by Mr Ong Beng Seng and Mrs Christina Ong.

Steven Grapstein CPA, 56, was appointed as a Director on 17 November 2003 and was appointed as Chairman of the Audit Committee on 7 May 2013. He is currently the Chief Executive Officer of Como Holdings USA Inc., an international investment group with extensive interests in the retail and hotel industries and Chairman of the Board of Directors of Tesoro Petroleum Corporation, a US publicly held Fortune 150 company engaged in the oil and gas industry. He also served as Chief Executive Officer (1994 to 2005) and Chairman of Presidio International dba A/X Armani Exchange, a fashion retail company until its sale on 15 May 2014. Como Holdings USA Inc. is ultimately owned by Mr Ong Beng Seng and Mrs Christina Ong.

Melissa Ong, 40, was appointed on 7 September 2010. She is also a director of Club 21 (Singapore) Pte Ltd, which is ultimately owned by Mr Ong Beng Seng and Mrs Christina Ong, and a director of Will Focus Ltd.

Christophe Cornu, 50, was appointed on 7 May 2013 and is an independent director. He is Chief Commercial Officer for Nestle Nespresso SA, a specialist in high quality portioned premium coffee and is a director of Nespresso France SARL, Nespresso Italiana SPA and Nestle Nespresso Beijing Ltd.

Thierry Andretta, 57, was appointed on 9 June 2014 and is an independent director. He is currently Chief Executive Officer of Italian luxury jewellery brand Buccellati. Prior to joining Buccellati in July 2013, Thierry was most recently Chief Executive Officer of the French couture house, Lanvin. Before Lanvin, Thierry held various senior executive positions at Moschino, Fashion Box, Replay USA, Belfe, the Gucci Group, LVMH, Céline and Emanuel Ungaro.

Company Secretary

Kate Anthony Wilkinson, LLB, is a qualified Solicitor and member of the Law Society of England & Wales. Previously an Associate with a large Solicitors firm, Kate moved in-house and has held senior legal positions, including as General Counsel and company secretary, of a number of multi-national companies, including Alcan. Kate joined Mulberry as Head of Group Legal in 2011 and was appointed Company Secretary on 17th August 2011.

Company advisors

Financial PR

Pelham Bell Pottinger Group
6th Floor, Holborn Gate, 330 High Holborn, London WC1V 7QD England

Nomad and Financial Adviser

Altium Capital Limited
30 St James's Square, London SW1Y 4AL England

Corporate Broker

Barclays Capital
5 The North Colonnade, Canary Wharf, London, E14 4BB England

Registrars

Computershare Investor Services PLC
PO Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH England

Dedicated telephone number for Mulberry shareholders:
+44 (0) 870 889 3161

Principal Bankers

HSBC Bank PLC
PO Box 120, 49 Corn Street, Bristol BS99 7PP England

Registered Auditors

Deloitte LLP
3 Rivergate, Bristol, BS1 6GD England

Solicitors

Osborne Clarke
2 Temple Back East, Temple Quay, Bristol BS1 6EG England

Corporate Social Responsibility

Our approach to Corporate Social Responsibility (CSR) is based on a simple principle: that Mulberry will make a positive difference to its people, the environment and the communities in which it works. We actively encourage our employees to find new ways of meeting our wider responsibilities, and as a company have focused our initiatives in six key areas:

  • Climate change
  • Reducing waste
  • Fair partners
  • Animal welfare
  • Community involvement
  • Health and wellbeing

Download Mulberry’s CSR approach

Governance

Our CSR strategy is agreed at the highest level in the company. The CSR team coordinates strategic work streams in collaboration with relevant departments and reports regularly to the Management Board.

People & Fair Partners

Apprentices

In 2006 we took on our first apprentices through a new Government approved scheme supported by Skillset UK and Bridgwater College. The 18-month training course, comprising a leather skills NVQ and technical certificate, sets young apprentices on the path to becoming accomplished craftsmen and craftswomen. In the seven years since we started, more than 60 apprentices have completed the course. Some of these apprentices have gone on to apply their skills and knowledge to different roles in the company for example product development, planning and market support.

As a result of the success of the programme, we have a waiting list of young people aspiring to join our production line team.

The programme has also received national recognition. In February 2010, we were proud to receive the National Skills Award, given to acknowledge excellence and world class performance in manufacturing.

Employee development is not restricted to our Somerset manufacturing operations, nor are our energies solely focused on Mulberry people. We offer internships at our London offices, and NVQ qualification programmes within our retail business. We are proud supporters of Graduate Fashion Week, and sponsor the Mulberry Accessories Award, where the winner receives a three-month placement with our Design team. And we are also actively involved in the Graduate Fashion Week Mentor programme, supporting students as they take their first steps in the fashion industry. Nurturing new talent has always been a key element of Mulberry’s success, and our support for these initiatives is part of a broader commitment to give something back to the British fashion and retail industry.

Manufacturing

At our Somerset factory, the Rookery, more than 270 trained craftspeople work together in teams to make our bags following the lean manufacturing method. We have recently opened a new factory in Bridgwater, Somerset, which will double our UK manufacturing capacity.

We also work with a select group of suppliers elsewhere in the UK and overseas. We expect these suppliers to create a suitable environment for their workers, and ask them to adhere to a set of standards called the Mulberry Global Sourcing Principles. We are committed to enforcing these standards though regular inspections of supplier facilities by our own employees and by third-party auditors.

Download Mulberry's Global Sourcing Principles

Environment

Sustainable buildings

Investing in the latest technologies, along with awareness raising activities among employees, are just two methods we are using to help reduce our energy consumption. When we extended our Somerset factory at the end of 2011, we installed rainwater harvesting for grey water use, and solar thermal panels to heat the water. To date the rainwater harvesting system has provided 822,000 litres of recycled water to flush our toilets.

At our new Bridgwater factory the installation of 290m² solar panels will generate power for approximately 10% of the site’s energy needs. We have also installed rainwater harvesting.

Our London flagship store refurbishment achieved ‘very good’ against the BREEAM building environmental assessment criteria, performing strongly for construction site impacts, energy efficient fittings and responsible sourcing of materials.

Recycling

We recycle as much material as possible from our UK sites. We have set up a number of partnerships with scrap stores local to our Somerset factory passing on a significant quantity of our leather off-cuts to community arts and crafts groups.

Animal Welfare

We are members of the Sustainable Luxury Working Group, a group of companies that produce luxury goods and that share a commitment to advancing good social, environmental and animal welfare practices in their operations. With the other members of the group, we created animal sourcing principles that we strive to follow in our sourcing practices, which state that:

We are committed to ethical practices in the catching, maintaining, breeding, raising, transportation, handling, and slaughter of animals in our leather, fur and exotic skins supply chains.

We are committed to sustaining well-functioning and bio-diverse ecosystems in the regions where we source. This includes maintaining species populations of wild animals at sustainable levels as well as to source only material of animal origin that stem from legal sources.

Community Involvement

Charity

Mulberry actively donates money, product and support to charities in our local community and across the wider industry. These charities are predominantly involved in assisting education, design and craft as well as aiding welfare in the community. In addition each year our employees select 3 charities to offer additional support through matching employee fundraising and raising employee awareness for these charities and their causes. Our 2014 charities are:

The Brain Tumour Charity

A national charity working to make a real difference for everyone living with a brain tumour, from funding pioneering research to raising awareness.

Bath Mind

A local charity in the Bath and Somerset area providing advice and support to empower anyone experiencing a mental health problem.

The Manna Society

A day centre near London Bridge station which is visited every day by between 130-220 people for services including osteopath, computer classes and access to training mental health workers.

News releases

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Download latest report

Annual Report 2014

Contact us

For any queries concerning Mulberry Group plc Investor Relations please contact:

+44 (0)1761 234 500
companysecretary@mulberry.com

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