Mulberry opens second leathergoods factory
14/06/2013
Full-year 2012 profits fell 28% to £26m, hit by weak spending in Europe and a lack of visibility in Asia.
Retail revenue was up 8% to £107.2 million, but wholesale revenue fell 16% to £57.9 million.
CEO Bruno Guillon said: “After three years of rapid growth, we have had a year of consolidation during which we have laid the foundations for the transition of Mulberry from a UK success story into a global luxury brand.
“Mulberry has a well-established business in the UK and a growing presence in Europe. With over 80% of our sales derived from these markets where the economic climate remains difficult, Mulberry's challenge for the future is to accelerate our brand awareness in the US and Asia."
The company announced the departure of creative director Emma Hill earlier this week.
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