Mulberry remains a relatively small brand, albeit a powerful one in its affordable luxury market segment. Its balance sheet remains strong. Early signs from the new CEO’s tenure are promising. However, even taken together, these elements cannot support current valuation metrics. One needs to take a very long view to justify current multiples.
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Mulberry remains a relatively small brand, albeit a powerful one in its affordable luxury market segment. Its balance sheet remains strong. Early signs from the new CEO’s tenure are promising. However, even taken together, these elements cannot support current valuation metrics. One needs to take a very long view to justify current multiples.