Saturday, February 16, 2019

Mulberry bags another set of strong results


British luxury brand Mulberry has enjoyed strong growth in the year to 31 March as a result of continued design  and omnichannel investments.  

Total retail sales rose by 8% to £118.7m, with like-for-likes also up 8% over the 52 week period.

Pre-tax profits increased from £1.9m to £6.2m year-on-year, while total revenue grew by 5% to £155.9m.

The full year also saw significant design changes, with the first collection from its new Creative Director Johnny Coca which went down well with consumers

Mulberry also opened a new flagship store in Paris to replace the smaller site.”Mulberry has made significant progress during the last financial year with solid growth achieved in revenues and profit” said Thierry Andretta, Chief Executive of Mulberry .

“The first collection introduced by our new creative director, Johnny Coca, has been well received by both the UK and international press and partners. Our UK manufacturing base, which produces circa 50% of our bags, has remained a core strength and point of distinction.”

 “We have built a strong foundation for future growth as a result of the investment made in product design and development as well as our omni-channel infrastructure. Looking forward, we will invest further in developing exciting new product, whilst continuing to engage with our core UK and growing international customer base.”

Mulberry noted that total retail sales for the 11 weeks to 11 June 2016 are up 9% compares to a growth of 4% like-for-like.