Mulberry Expected To Have New CEO By July

Luxury handbag maker Mulberry is expected to appoint a new CEO around the time of July of this year.

Mulberry veteran and chairman Godfrey Davis has been leading the group since may of last year when CEO Bruno Guillon announced his resignation after a turbulent two years since his hiring in 2011. Guillon's strategy of re-emphasizing the luxury nature of the Mulberry brand and to drive overseas expansion was by artificially inflating prices of its handbags which failed to pay off and left the brand's profits substantially below current market expectations.

The timing of the appointment of a new CEO will also coincide with the joining of a new Creative Director, that in the form of Johnny Coca who's joining was announced back in November of last year. A former Céline accessories design director he will be responsible for all of Mulberry's collections, including ready-to-wear.

Coca who begins on July 8, 2015 replaces Emma Hill, who was creative director for six successful years but left the company in 2013. Hill was responsible for transforming the brand into one of the UK's most celebrated global luxury fashion houses. She launched several of Mulberry's must-have bags like the Alexa and Del Rey bags and also made its its ready-to-wear line as desirable as its accessories.

With the arrival of a new CEO Davis is likely to revert to non-executive chairman of the group. The company is expected to make an announcement soon.