It was once the luxury brand beloved of the fashion elite. However, Mulberry has warned that its profits will come up short this year due to a drop in sales. The profits warning would have been unimaginable at the height of Mulberry’s success in 2011, when it was the fastest growing luxury brand on the planet. Scroll down for video Warning: Luxury brand Mulberry is pinning its hopes on a new bag by model Cara Delevingne (pictured) Key to its success was the Alexa bag, named after model and TV presenter Alexa Chung and based on a man’s satchel. Mulberry’s former designer Emma Hill called the Alexa ‘the anti-It bag that became an It bag’ – and it became so popular that it once had a waiting list that ran into thousands and accounted for a third of Mulberry’s sales.
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Firm was valued at £1bn after release of accessory named for Alexa Chung
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It is now valued at just £340m after being unable to match the popular hit
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Executive chairman pins hopes on new £795 bag by model Cara Delevingne
However, he said Mulberry’s fortunes have been on the up since the launch of Miss @placeholder’s line.
Inside there is small lion rivet and a heart shaped patch based on @placeholder’s heart tattoo.