×
61 030
Fashion Jobs
NEW BALANCE
Strategic Account Manager, Colleges
Permanent · Boston
MARSHALLS
70118-lp Detective
Permanent · Lake Elsinore
MARSHALLS
70118-lp Detective
Permanent · Modesto
MARSHALLS
70118-lp Detective
Permanent · Temecula
TJ MAXX
Loss Prevention Detective- Owings Mills, md
Permanent · Owings Mills
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Hamilton Township
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Bloomington
KOHLS
Full-Time Loss Prevention Officer
Permanent · Vallejo
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Louisville
KOHLS
Associate Materials Manager
Permanent · Menomonee Falls
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Danbury
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Pensacola
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Houston
ULTA BEAUTY, INC.
General Manager
Permanent · Annapolis
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Old Orchard - Part Time
Permanent · Skokie
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Glendale - Part Time
Permanent · Glendale
BLOOMINGDALE'S
Outlet Keyholder Selling, Livermore - Full Time
Permanent · Livermore
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Newport Beach - Full Time
Permanent · Newport Beach
ESTÉE LAUDER
Director, Technical Consumer Design
Permanent · Melville
ESTÉE LAUDER
Business Intelligence & Analytics Lead
Permanent · Melville
ESTÉE LAUDER
Finance Manager, Selling, North America
Permanent · New York
ESTÉE LAUDER
Retail Beauty Sales Manager - Clinique - 40 Hours - Columbus, oh
Permanent · Columbus
Published
Jul 6, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Mulberry to exit Paris store, but will open new location when tourism re-starts

Published
Jul 6, 2021

Luxury group Mulberry said on Tuesday that its wholly owned French subsidiary is to end the lease of its store at 275 Rue Saint Honoré and exit the property early.


Mulberry



The move will raise significant cash for the company, but it doesn't mean the label is turning its back on Paris permanently. In fact, Mulberry said that it plans to open a new store in the key shopping city "once International tourism returns". The aim here will be to find a property that "supports the company’s omnichannel approach and optimises its customer-centric retail experience”. 

So how much will the property generate for the business? Mulberry said that the book value of it in its accounts was £7.9 million but the process that will complete during September should generate £13.2 million. The net proceeds after tax should be around £10.8 million. It didn't say who might be taking over the property in its place.

This money will "strengthen further the company’s cash position and support investment opportunities in line with its strategic plans", it explained.

It’s perhaps an unsurprising decision taken by the company given how expensive shops in prime retail positions and key destination cities are, and also how much of a drain on company finances they've been in the last 15 months given enforced temporary closures.

Many companies seeking new properties post-pandemic could be expecting to get more attractive rent deals than they may have had previously and that could be another explanation behind the decision to shut the store.

Copyright © 2021 FashionNetwork.com All rights reserved.