UK “uncertain” as Mulberry targets Asia
11/12/2017
The brand’s retail sales increased 2% year on year to £56.6 million, supported by growth of 8% in international retail revenue.
The news was less positive from the UK, Mulberry’s home market, which saw flat retail performance. Despite this, Mulberry chief executive Thierry Andretta said there had been a rebound in spending by foreign visitors in London and that underlying trends were good.
“We continue to see strong demand from tourists in London and whilst the UK remains uncertain, the group remains in a strong position to invest in further developing the customer experience in key international markets and enhancing its unique UK design and manufacturing base,” he explained.
The biggest overseas target market for Mulberry in recent months has been Asia. In April, it established a new Asian division for its business, following this up in July with the launch of a new joint venture company in Japan.
Mr Andretta has insisted the company remains committed to manufacturing in the UK, saying: “We continue to invest in our Somerset factories and have created an Artisan Studio that showcases our distinctive British craftsmanship on special and limited-edition products.”
He added that leathergoods will remain the “core commercial focus” of Mulberry and that the brand intends to continue refining its core product range and enhancing it with new offerings.
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