Burberry Takes on Mulberry in Posh Bag Wars
Burberry Group Plc will acquire an Italian leather-goods factory as the company works to ramp up its business in luxury handbags under Chief Executive Officer Marco Gobbetti. The factory will become a “center of excellence for Burberry’s leather goods,” creating prototypes and coordinating accessory production with external suppliers, Gobbetti said in a statement. The division being acquired from Italian leather-goods company CF&P Srl for an undisclosed sum has around 100 employees, a Burberry spokesman said.