The founder of Mulberry has said the brand would be a more natural fit with the likes of a big luxury player such as LVMH following last week’s takeover bid from Mike Ashley’s Frasers Group.
Roger Saul admitted the retailer had struggled in recent years, claiming it has become “too reliant on handbags”.
Saul told This is Money: “The company needs to go back to the spirit of the brand as a whole.”
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His comments come as Mulberry rejected a potential £83m takeover offer from Frasers Group last week at 130p per share.
The brand’s board concluded that Frasers’ offer – a 30% premium of its recent share price – “does not recognise the company’s substantial future potential value”.
Saul told the publication: “Ashley is a good retailer, but the company has been teed up and a battle created.
“LVMH could step in. It’s a strong brand. To build a brand like that from scratch would cost hundreds of millions of pounds.”
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