Mulberry flexes muscles with Japanese expansion plans

Mulberry Japan expansion

British handbag retailer Mulberry has signed a joint venture agreement that will see it increase its presence in Japan.

The luxury brand has teamed up with Japanese firm Onward Global Fashion, with both companies having a 50 per cent stake in a new company called Mulberry Japan.

Headquartered in Tokyo, it will manage all retail, digital fulfilment and wholesale distribution of Mulberry for the Japanese market.

READ MORE:  Mulberry profits and sales continue to grow

Mulberry and Onward will each invest £2.8 million in the new entity.

Mulberry chief executive Thierry Andretta said Japan presented “significant growth opportunity” and is a key market in its international expansion strategy.

The news comes after Mulberry reported rising full-year profits last month, boosted by an increase in tourists taking advantage of the weak pound in the UK.

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