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UK luxury brand Mulberry posts 18% rise in first-half sales, shares gain
The luxury handbag maker said franchise and wholesale sales climbed 52% as new bags and runway exposure helped drive demand.
- On Monday, Mulberry reported group sales increased 18% for the 26 weeks ending September 26. The Somerset-based luxury handbag maker attributed growth to its turnaround strategy launched last year.
- Chief Executive Andrea Baldo said performance reflects the past year's work refocusing the group around product, brand, and customer. The strategy aims to stabilize finances and restore profitability.
- US sales rose 28% and European sales increased 23%, driving international momentum. UK sales grew 10%, while franchise and wholesale demand surged 52% across the division.
- Mulberry benefited from "strong customer demand" for Raffia, Crochet, and Stevie bags. Trading also improved following the Mulberry by Christopher Kane runway show at London Fashion Week.
- The group reported momentum continuing into the second half despite a "challenging" macroeconomic backdrop. Boss Andrea Baldo added the company enters the period with a strong product pipeline.
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Mulberry Group reported that sales in its first fiscal semester were boosted by the reduction in promotional activities and that it will continue to focus on stimulating full-price growth in the second half of the year. Exclusive material for subscribers. To have full access, access the link of the material and register.
·Rio de Janeiro, Brazil
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Northwich GuardianReposted by 
Herts Advertiser
Herts AdvertiserMulberry sales lift 18 as turnaround progress accelerates
Boss Andrea Baldo said he was ‘very pleased’ with recent progress by the business.
·Northwich, United Kingdom
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Total News Sources20
Leaning Left3Leaning Right2Center9Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 22%
C 64%
14%
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