MULBERRY GROUP PLC
20 July 1999
MULBERRY ANNOUNCES PARTNERSHIP DEAL WITH MAJOR US HOME
FURNISHING COMPANY KRAVET
Mulberry, the market leading British luxury goods brand,
has today agreed a landmark license and partnership
agreement with Kravet, the US Home Furnishings company.
The agreement will result in Kravet distributing Mulberry
fabric, wallpaper and soft furnishings through its
network in the UK, Europe as well as North and South
America. Mulberry will continue to control the design
and marketing of the product ranges whilst Kravet will
invest in expanding the product offering and further
improving logistical and service standards.
Kravet will pay a consideration of £1.5 million to
Mulberry and it is envisaged that the agreement will
result in a 400% increase in sales of the licensed
product over the next five years.
The agreement will also mean a prestigious new Mulberry
Home showroom on the ground floor of Chelsea Harbour.
In addition, Mulberry is publishing 'Mulberry at Home' in
September, its very first lifestyle book, in conjunction
with Ebury Press, which illustrates the breadth of the
Mulberry collection in a variety of Home settings.
Commenting on the agreement, Mulberry Chairman, Roger
Saul, said;
'We are delighted with today's announcement. We have
sought for some time to simplify and develop the Home
business through such an agreement with a 'blue-chip'
partner like Kravet. I believe today's deal underlines
our work over the past few years to establish Mulberry
Home as a premium luxury brand throughout the US and
Europe.
We are excited about this deal because we see our Home
collection as being one of the key growth areas for
Mulberry. The modern consumer is becoming increasingly
lifestyle orientated and I feel that Mulberry is
perfectly poised to meet this need.
Our strategy continues to be the development of the
Mulberry brand via a series of exclusive agreements with
market leading partners in key countries.'
For further information, please contact:
Roger Saul
Chairman, Mulberry Group PLC 01749 340 532
Alex Mackey
GCI Focus 0171 600 1392
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