- Saul admitted Mulberry had struggled in recent years
Fashionistas: Roger Saul with his wife Monty
The founder of Mulberry has spoken out about an £83million bid from retail tycoon Mike Ashley last week.
Roger Saul, who started the firm in 1971 in Somerset, said it would fit more naturally with a European luxury player such as LVMH.
He admitted Mulberry had struggled in recent years.
‘The company needs to go back to the spirit of the brand as a whole,’ he said.
‘It has languished. It has become too reliant on handbags.’
Singapore billionaire Ong Beng Seng has a controlling stake, but is trying to fend off Ashley, who is the second-largest shareholder.
Ashley made the offer, which was rebuffed, as he strives to move his empire upmarket.
Saul added: ‘Ashley is a good retailer, but the company has been teed up and a battle created. LVMH could step in. It’s a strong brand. To build a brand like that from scratch would cost hundreds of millions of pounds.’
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