While tons of luxury brands are continuing to see drops in sales and having to make cutbacks in production, other labels are making attempts to stay afloat during the current fashion financial pickle. Some are even seeing the fruits of their labor with a rise in sales despite shoppers tightening their belts.
Mulberry is one of those companies that has seen a bit of increase in early summer sales. Not only has their discount factory outlet sales gone up by an impressive 45% since last year, but their regular-priced stores have also increased by 11%. Those are the kind of numbers that many other luxury brands would love to be reporting right now.
One of the things that Mulberry says attributed to the new numbers is their new Mitzy collection of handbags. The line is considered budget-friendly (however relative that term might be) when it comes to luxury labels. Instead of buying an ostrich leather Bayswater bag for over $3,000, you can opt for the mid-sized Mitzy messenger in pebbled leather for only $495. That’s a fairly significant range in pricing.
Godfrey Davis, chairman and chief executive of Mulberry, said: “Mulberry with its authentic and understated designs is striking a chord, not just in the UK, but also worldwide, because over-the-top extravagant consumption just isn’t in favour right now.”
Of course, don’t think that Mulberry will forget its luxury roots altogether. You can also purchase the Mitzy in ostrich for $3,150. At least they’ve got some variety to their pricing!
