Mulberry Increases Profits | Fashion House Expands International Operations After Strong Financial Results

Posted on: Dec 10

Mulberry New York BagsMulberry has enjoyed more success, posting an increased pre-tax profit of £15.6 million in the last six months, up from £4.7 million in the period prior.

Those profits saw the fashion house's revenue increase by 62% to £72.3 million, compared with £44.7 million in 2010. Retail sales were also up by 47%, while wholesale shipments rose a massive 93%.

No doubt these excellent results were helped by the opening of Mulberry's latest flagship store in New York during September, and the launch of five new boutiques in the Asia-Pacific region. The label also finished the expansion work on its Somerset factory in September, a measure which created 60 new jobs and increased the plant's production capacity by 30%.

Looking forward, Mulberry's chairman and chief executive Godfrey Davis says his fashion house plans to continue expanding in international markets.

"Against the backdrop of economic uncertainty, Mulberry continues to build market share internationally and we remain cautiously optimistic about the future prospects of the business," he explained.

Nine new Mulberry stores will open in the second half of the current financial year as part of the brand's international strategy.

It hasn't forgotten about its British roots though. After it received £2.5 million from the Regional Growth Fund in October, Mulberry set about building a handbag factory in Bridgwater. This latest plant should create 250 jobs in the local area.

[Source: Insider Media Limited]
[Image Source: My Fashion Life]

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