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Mulberry Group announced a 20 million pound fundraising round, or about $27 million, which it plans to use to accelerate its growth strategy, according to a Thursday press release.

Britain's Mulberry said on Thursday it has raised 20 million pounds ($27.14 million) through convertible debt from its two biggest shareholders as it seeks to bolster operations and support growth.

By Andrea Figueras Mulberry said it named James France as non-executive director of its board to represent Frasers Group, one of its major shareholders.

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Luxury fashion firm Mulberry has raised £20 million from its largest shareholders as it revealed a plunge in sales over the past year.

Luxury fashion firm Mulberry has raised £20 million from its largest shareholders as it revealed a plunge in sales over the past year. Bosses at the handbag maker said it has made “significant ...

Mulberry raises £20m from shareholders after sales plunge lower Bosses at the handbag maker said it has made ‘significant progress’ in its turnaround efforts.

Mulberry has secured £20m in fresh funding from its top shareholders to help fund its turnaround plan after reporting widening losses.