Mulberry has posted a whopping 385% increase in profits during the last year, defying global economic sales trends.
The jump was no doubt inspired by the opening of nine new stores in Asia, the Middle East, Europe, and Australia. Online sales also played their part, with an increase in this sector of 69%. And the collaboration with Target, which helped make Mulberry apparel and accessories accessible to budget shoppers, probably didn’t hurt its sales figures either!
Handbags have proved some of Mulberry’s most popular items over the last 12 months. The purses have been spotted on the arms of stylish celebrities including Kate Moss, Gemma Arterton, Frieda Pinto, and Alexa Chung, to name just a few. The relatively accessible prices have helped women on the street follow their star idols. The swell of support has seen handbag production increase by 30% at Mulberry’s Somerset factory.
But don’t expect Mulberry to let those impressive sales figures go to its head. The fashion house’s chairman and CEO, Godfrey Davis, says the company is “cautious about the global economic environment,” but focused on expanding its international interests. New stores in Amsterdam, Germany, New York, Korea, Bangkok, and China are expected to open before the year’s end, and no doubt boost those impressive sales figures even further.
