British luxury house Mulberry would have to be the envy of other luxury houses at the moment.
The company’s half-year results showed profits being up a staggering 231 per cent. What recession we say?
Total revenues increased by 62 per cent to £72.3 million (2010: £44.7 million). Retail sales were up 47 per cent, like-for-like sales up 44 per cent (2010: up 30 per cent and like-for-like up 29 per cent.
Mulberry has been around for the past 40 years, but the fashion house has seen a resurgence under the creative eye of Emma Hill.
Hill is almost single-handedly responsible for bringing the celebrity and the brand together. British IT-girl Alexa Chung often carries around a Mulberry bag, including the bag they named after her.
New York had its introduction of a flagship store in Soho and with the Asia-Pacific region the place to both seen and heard has seen Mulberry open 5 stores.
With production on the increase, the company has also expanded their factory in Somerset.
Retail store sales were up by 18 per cent compared to the same time last year and Spring/Summer orders were up 29 per cent.
The luxury brand plan on increasing their global network, with nine new stores planned for the second half of the financial year.
“The first half of this year has seen us deliver another strong set of results. Our strategy to focus on international expansion continues to bear fruit. 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.” Mulberry Chairman and CEO Godfrey Davis said.
Image credit: fashiontraveler.com
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