British fashion label Mulberry is largely known for its delicious assortment of Cara Delevingne-endorsed leather handbags—though thanks to the brand’s not-exactly-affordable prices, you don’t see tons of folks toting these carryalls up and down the street.
Last year, Mulberry’s former chief executive officer Bruno Guillon jacked up its products’ prices in an attempt to make the label feel more exclusive. Now, in the face of its second consecutive profit warning, Mulberry is officially counteracting that strategy by, well, decreasing its prices: starting in June, reports the Telegraph, it will be releasing a line of styles priced under $1,000.
Between 2010 and 2014, Mulberry’s prices increased by more than 60 percent. For starters, its widely popular Alexa satchel bag, originally priced at roughly $1,160, now goes for more than $1,800. It will certainly be interesting to see how, if at all, dropping those prices will affect the brand’s performance.