Mulberry shares hit by news of creative director exit

<p>Shares in Mulberry have dropped following confirmation of the exit of its creative director.</p>

Shares in British luxury brand Mulberry are trading lower after it confirmed the forthcoming departure of its creative director, Emma Hill.

The company, which is best known for its handbags and association with celebrities such as Alexa Chung, released a statement after speculation in the press over Ms Hill's exit, explaining that she has told the firm she wants to leave and that the date of her departure is yet to be finalised.

It added that work has already been completed on its spring/summer collection for 2014 and that Ms Hill is currently preparing Mulberry's London Fashion Week range, which is due to be launched on September 15th.

Ms Hill has played a major role in raising the profile of the brand since she started heading up its design team more than five years ago.

Shares in the company closed 8.2 per cent lower at the end of trading yesterday (June 10th). Mulberry is due to release its latest financial results on Thursday and analysts are forecasting a drop in profits.

"This causes some uncertainty," said John Cummins, retail analyst at WH Ireland.

"The long-term potential in Mulberry is exciting, but I think they are going through growing pains."

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