Mulberry has announced significant job cuts are imminent as the British luxury handbag maker faces a challenging market, reporting a 19% drop in half-year sales to £69.7m and widening losses of £15.7m. The company, which recently turned down a £111m bid from Mike Ashley's Frasers Group, is under the leadership of new CEO Andrea Baldo, who aims to streamline operations and enhance the brand's relevance. UK sales fell by 14%, with a notable 31% decline in the Asia Pacific region, particularly in China and South Korea. Baldo is set to complete a strategic review next month, focusing on sustainability and product innovation to rejuvenate the brand. Despite current challenges, Mulberry is pursuing equity fundraising and increased debt facilities to improve financial flexibility. The company has also achieved B Corp Certification, emphasizing its commitment to sustainability amid its restructuring efforts.