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.
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.