Business
Proposed £20 million fundraising & Trading Update
Proposed £20 million fundraising & Trading Update.
About this update from Mulberry Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER, THIS \"ANNOUNCEMENT\") IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nFOR IMMEDIATE RELEASE\n \n20th June 2025\nMulberry Group plc\n \nProposed £20 million fundraising\n \nand\n \nTrading update\n \nMulberry Group plc (AIM: MUL) (\"Mulberry\" or the \"Company\" and, together with its subsidiary undertakings, the \"Group\"), the British luxury lifestyle brand, today announces that it is intending to raise £20 million of additional capital to help fund its growth strategy and to meet the Group's medium term revenue, profitability and cash generation targets (the \"Fundraising\").\n \nThe Company also announces an update on trading including the outturn for the 52 weeks ended 29 March 2025 (\"FY25\").\n \nTHE FUNDRAISING\n \nStrategy update and reasons for the Fundraising\n \nThe Company, led by Chief Executive Andrea Baldo and a new management team, is currently progressing a transformation plan in order to capitalise on the Group's strengths and return it to profitability. Stated medium term goals for the Company are annual revenues of £200 million and an earnings before interest and tax margin of 15 per cent.\n \nKey elements of this strategy - \"Back to the Mulberry spirit\" - were set out in the Company's announcement of 30 January 2025 and its initial focus included simplifying and streamlining the Company's operations to reduce the cost base, refreshing the Company's brand platform, and leveraging creativity and customer insights to deepen connections and drive demand.\n \nThe board of directors of the Compan...