Mulberry profits continue to rise

As profits rise, the brand has plans for international growth

Mulberry has reported an impressive rise in its annual pre-tax profit, rising to 36 million pounds from 23.3 million last year. Revenue for the brand that brought us the Alexa, Del Rey and Bayswater grew 38% to 168.5 million pounds, with international sales increasing 61%.

To keep up with its ever-increasing popularity - UK sales at Mulberry's 45 stores and department store concessions rose by 30% in the year to March - Somerset-based Mulberry plans to open a second factory in the county, doubling production and creating 300 jobs. Its overseas stores generate nearly 40% of sales, according to the BBC, so it’s not surprising that it has plans to open another 16 new stores internationally this year.

ADVERTISEMENT - CONTINUE READING BELOW

And in other good (financial news), Harvey Nichols just informed us that they have had a record first day of sales across all of its stores, including a the biggest ever first day of sales in the Knightsbridge – which opened in 1831. We hear one happy shopper bought 21 pieces by Givenchy.

See our round-up of the best summer sales

Read Next: