Mulberry Bets on Lower Handbag Prices

Mulberry Group Plc is aiming to sell most of its luxury handbags for less than £1,095 ($1,383) to broaden the struggling brand’s appeal and boost sales, according to the new chief executive officer.

The British company’s flagship product, the Bayswater bag, sells for that price, and Andrea Baldo is trying to bring down the cost of its other products so that 60 percent of the range retails for less than the Bayswater.

“We were asking the customer for a little bit too much,” he said in…