Mulberry confident in strategy despite dip in revenue
19/11/2018
Earlier in the year, the company had said it expected its results to take a hit from the collapse of UK department store group House of Fraser. This proved to be the case, with its UK retail sales down 11% year on year. It also incurred a one-off cost of £2.1 million as a result of the group entering administration.
Mulberry’s international sales were up 13%, while its revenue from global digital channels was 5% higher. In 2018, digital sales made up 17% of its total revenue, up from 14% in 2017.
Reacting to the results, Mulberry CEO Thierry Andretta said: "We are delivering on the strategy to develop Mulberry as a global luxury brand with new subsidiaries in Korea and Japan, the creation of Digital partnerships in China and the additions to our own store network in Asia.”
He also reiterated the brand’s commitment to manufacturing in the UK. It operates two factories in Somerset and Mr Andretta said Mulberry was proud to be “the largest manufacturer of luxury leather goods in the UK”.
Share this story:
