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Investing.com -- Luxury firm Mulberry Group has announced plans to decrease its business activities in China in a bid to simplify its operations and return to profitability.
The London-listed company, which recently fended off a takeover attempt by its biggest shareholder, Frasers Group, stated on Thursday that it will concentrate on the UK market and speed up its expansion in the US.
The company is also planning a more targeted product range and aims to lessen its reliance on promotional activities, while maintaining its current price range.
For the fiscal year ending March 30, 2024, the company reported a group revenue of 152.8 million pounds. However, it also posted a pretax loss of 34.1 million pounds.
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