Mulberry cements commitment to UK manufacturing despite falling profits
11/06/2015
Retail sales increased 1% to £109.9 million; down 9% during the first half and up 9% during the second.
Leather accessories account for over 90% of the group's revenues, within which bags represent over 70% of revenues.
CEO Thierry Andretta joined in April 2015 while it brought creative director Johnny Coca on board in July.
Chairman Godfrey Davis said: "We have seen a positive uplift in sales since November as a result of the actions we took at the beginning of the year. We have focused on creating desirable new products across the entire Mulberry range whilst continuing to invest for the longer term."
The new factory in Somerset was building up to full capacity and efficiency during the first half. Around half the company’s handbags are now manufactured in the UK.
Mulberry said in a statement: “Looking forward, the group is committed to its "Made in England" strategy and intends to maintain its UK production of handbags close to this 50% level. Since the UK factories are already approaching full capacity, this is likely to involve opening further new factories in the UK as the group's revenues increase.”
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