Mulberry will take full control of its US business after agreeing to end a joint venture with its US partner.
Mulberry will take control of its wholesale and retail sales in the US, which it hopes will create a more efficient operation when combined with its online business, over which it already has full control.
The joint venture began in September 2000 with a company owned by Challice and five stores were opened on both East and West coast locations. Three of these will now be closed, with Mulberry taking control of theremaining two in New York.
The annual cost of taking over the US business will be around $2m (£1.3m) in Mulberry’s financial year to March 31.