British luxury brand Mulberry has announced the appointment of a new non-executive director.
The Somerset-headquartered group said that following its annual general meeting, September 7 2023, the board will appointment Leslie Serrero as an additional independent non-executive director. Ms Serrero will also sit on the audit committee of the board.
Ms Serrero has experience of luxury brand leadership. She has been international managing director of US luxury group Casa Kosmos Brands Group since October 2022, having previously held senior executive roles at Fendi France between 2019-2022, Christian Dior Couture and Lacoste SA.
Prior to this, Ms Serrero was a project leader at Boston Consulting Group for six years, advising companies in the retail, consumer and fashion sectors on transformation and growth strategies. Ms Serrero also has an MBA from Harvard Business School and is a French national, based in Paris.
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The Company's chairman, Chris Roberts said: "Following an extensive independent search, we are extremely pleased that Leslie has agreed to join the Board. With a strategic and analytical mindset, she brings a wealth of knowledge on digital transformation, omni-channel and customer engagement in the luxury sector".
Ms Serrero, who is also on the board of LS Consulting SASU and Stanley and Stella SA commented: "Mulberry has a unique brand identity, a compelling strategy and market-leading sustainability credentials. I look forward to working with the team and bringing to bear my experience of facilitating growth strategies, and deep knowledge of the luxury goods industry."
On June 28 Mulberry announced its annual results, where it reported a £12m dip in profits. The brand reported that for the 52 weeks to April 1 2023, revenues was £159m, compared to £152m during the 53 weeks to April 1 2022. The brand reported underlying pre-tax profits fells from £14.6m to £2.5m, while statutory pre-profits were down from £21.3m to £13.2m.
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However, the company said it continued to deliver on strategic objectives, despite macro-economic uncertainty. Thierry Andretta, chief executive of Mulberry said: "We have made significant investments in the Company this year, as well as expanding our direct-to-customer model with the recent acquisitions of businesses in Sweden and Australia. I am also delighted today to announce we now have full ownership of Mulberry Japan Co. Limited. These investments were supported by our transformation function, designed to support the delivery of our strategy, with a particular focus on projects and systems that will underpin our growth in the longer term."
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