Mulberry has hired Andrea Baldo, the former boss of the Danish brand Ganni, as its new chief executive, replacing Thierry Andretta, who had been in the job for nearly a decade.
The British leather goods maker has been hit hard by the spending downturn in its home market and in China. Mulberry is looking to shake things up as its shares have dropped 57 percent since the beginning of the year. The management reshuffle announced on Tuesday has since pushed up Mulberry’s shares by 13 percent, valuing the London-based company at £64.9 million.
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