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- 📈 Mulberry Axes 85 Roles in Slimdown Drive
📈 Mulberry Axes 85 Roles in Slimdown Drive
Little Journey Raises £6M to Heal Kids
This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes
In today’s stories:
Mulberry Axes 85 Roles in Slimdown Drive
Little Journey Raises £6M to Heal Kids
Inheritance Tax or Farmyard Fire Sale?
The summary: Mulberry’s shaking things up with a head office trim and a fresh CEO vision, tackling slumping sales and fending off Mike Ashley, all while plotting a stylish comeback for its iconic British brand.
The details:
Mulberry trims its load: The luxury handbag maker is axing 85 corporate roles—mostly from its Kensington HQ—as half-year sales tumble 19% to £69.7m and losses balloon to £15.7m.
Tough love for UK and Asia: UK revenues plunged 14%, while Asia Pacific sales nosedived 31%, with China taking a whopping 52% hit. Europe and the US, however, managed a modest 2% growth.
New boss, bold moves: Freshly minted CEO Andrea Baldo is slashing and reshaping to make Mulberry “leaner and more agile,” with plans to revive the brand’s sparkle in the UK before taking the charm global.
Frasers' bid dismissed: Mike Ashley’s £111m takeover attempt was swiftly binned by Mulberry’s biggest shareholder, Challice, leaving Ashley grumbling about “governance” woes.
Why it matters: Mulberry, once a darling of British luxury, is feeling the pinch as shrinking sales and deepening losses force it to downsize and rethink. With UK consumer confidence still in the doldrums and Asia-Pacific markets faltering, even the allure of iconic handbags isn’t enough to steady the ship. Add a rejected takeover bid from Mike Ashley’s Frasers Group, and you’ve got a quintessential tale of a heritage brand fighting to stay relevant in a brutal retail landscape.
The summary: Little Journey is revolutionising paediatric care with clever tech, playful innovation, and global ambition, easing young patients' hospital experiences while setting a new standard for personalised healthcare.
The details:
Big bucks for little heroes: London’s Little Journey raised a hefty £6M Series A round, led by Par Equity, with more support from Mercia Ventures, Octopus Ventures, and others. Toss in a cheeky £2.6M in grants from the LEGO Foundation and SBRI Healthcare, and they’re scaling up to conquer the US healthcare market.
Pioneering paediatric care: Born from an anaesthetist dad’s frustrations, this healthtech gem combines clinical expertise, play, and data-driven insights to ease the anxiety of kids and families facing hospital visits. With localised content in 20 languages and use in 100+ hospitals worldwide, it’s reshaping care one young patient at a time.
Turbocharging trials & treatment: Armed with fresh funding, Little Journey plans to disrupt paediatric clinical trials, tackling recruitment woes and boosting outcomes. It’s also enhancing its app for accessibility, ensuring children with disabilities aren’t left behind.
Future of child-first health: Backed by the NHS and pharma giants, with a 97% satisfaction rate to boot, this platform isn’t just about medicine—it’s a movement. From reducing anxiety to empowering neurodivergent kids with LEGO, Little Journey is rewriting the rules of paediatric care.
Why it matters: Little Journey is proving that paediatric care doesn’t have to be stuck in the dark ages—kids deserve more than a sticker and a lollipop. By blending clever tech, clinical insight, and a sprinkle of playfulness, they’re not just making hospital visits bearable; they’re rewriting the rulebook for global healthcare. With NHS support and pharma giants on board, they’re setting a new gold standard for how we care for the tiniest patients, one app update at a time.
The summary: Farmers are rallying against a new inheritance tax that could force them to sell up, while the government insists it’s all part of a grand plan to boost public services—though farmers are more inclined to call it a recipe for disaster.
The details:
Inheritance tax uproar: Farmers are marching on Downing Street in droves, protesting a new 20% inheritance tax on farms worth over £1m, set to hit in 2026. The government claims only the wealthiest estates will pay, but farmers say the maths doesn't add up.
Land for tax bills: Farmers argue the policy could force land sales, threatening food security and family legacies. One South Gloucestershire farmer reckons his £500k tax bill might cost him part of his farm—and a few sleepless nights.
Promises broken: Labour once courted farmers, calling agriculture "not a business like any other." Now, industry leaders cry betrayal, saying the policy stifles growth and productivity.
Government's "tough love": Ministers insist they're "committed" to farming, boasting a £5bn investment while defending "difficult decisions." Farmers remain unconvinced, as protests and lobbying heat up.
Why it matters: Well, it looks like the government’s latest tax tweak could turn farmland into a tax haven for HMRC, with farmers worrying they’ll have to auction off granddad’s farm to cover the bill. While ministers pat themselves on the back with promises of investment, farmers reckon this tax will leave them knee-deep in debt, not crops. It’s a bit like asking the NHS to save lives by cutting its budget—noble intentions, but rather short-sighted.
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