Mulberry Group Plc"s CEO, Andrea Baldo, has unveiled a new strategy to reinvigorate the brand by offering most luxury handbags at prices below £1,095 ($1,383).

This initiative aims to increase the brand"s appeal and boost sales during a challenging period. The iconic Bayswater bag is currently sold at this price point, and Baldo"s plan involves reducing the costs of other products so that 60% of the handbag range will be priced lower than the Bayswater.

This pricing strategy is part of a broader effort to attract a wider customer base and improve the company"s market position.