Mulberry has confirmed its ill-fated decision to go upmarket pushed it to a half-year loss but a return to its lower-priced roots is now "bearing fruit". The British firm best known for its handbags had aspirations of a more exclusive luxury position tried to raise its prices but they were shunned by customers. To now better compete they have brought in a range priced at £500-£800 but still face pressures from many other brands that offer the look and feel of luxury at a fraction of the price.
