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Mulberry boss receives chunk of shares

Luxury British brand and retailer Mulberry yesterday spent £3.4m on shares for its new chief executive Bruno Guillon.

Guillon, who was previously at French luxury brand Hermes, joined Mulberry at the start of the month and has been granted 200,670 shares. He paid just 200p per share, which the company paid the remaining £16.89.

Guillon will be awarded the shares in three installments over the next four years but in order for him to get the full value they must hit a target price of £23.02.

Guillon replaces chief executive and chairman Godfrey Davis who will continue as non-executive chairman after a three month handover period.

He joined Mulberry from French luxury brand  Hermès Sellier SARL where he was managing director of French subsidiary Hermès France, a position he has held for four years. He joined Hermès in 2001 having previously worked at LVMH and Nina Ricci.

Readers' comments (1)

  • Forgive me, but isn't this the same Mulberry who so desperately needed financial assistance just five months ago (from Drapers, 13 October 2011): 'According to the Times Mulberry wants to open a second factory near its existing site in Somerset to meet rising international demand for Mulberry products. The company is reportedly seeking £2.5m from the government to add to £5m of investment for the new site as the company cannot fund the entire cost itself due to its obligation to shareholders.

    However chief executive Godfrey Davis said it was “very unlikely” Mulberrry would be able to open a second factory without financial backing from the coalition’s Regional Growth Fund.'

    Clearly, a man whose wife works for a company which charges £35 for a notebook not much larger than an iPod, realises how tough it can be to convince people to pay ridiculously over-inflated prices and so, in just over a fortnight (Drapers, 31 October):
    'It has been announced today that as part of the second round of the government’s £1.4bn Regional Growth Fund (RGF) Mulberry will receive funding for its new factory.'

    I'm so pleased that, under this government, we have devised a system which takes from the poor (and averagely well-off) to give to the rich. Doesn't it make you proud?

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