In the half-year period, running from April to September (the first six months of the annual financial year), Mulberry revenues from sales decreased by 29%. Yet, despite that, the British fashion house is satisfied, anyway, because its business trend “keeps going up constantly”. The relaunch of Alexa bag (in the picture, taken from mulberry.com) has considerably driven the brand’s sales. In the meantime, the spotlight is still on Mulberry also for its potential transfer of ownership: in fact, Frasers Group will have to reveal their own intentions shortly.
Down 29%
In the half-year period, ended on 26th September 2020, Mulberry overall earnings dropped by 29%, therefore reaching, in terms of value, 48.9 million pounds. Nevertheless, the British fashion house highlighted digital sales, which have been increasing by 68%; likewise, they also emphasized that revenues from sales in the Asia-Pacific area have gone up by 28%. In a press release, alongside business figures, the company pointed out that from September 27th until November 21st sales suffered from a 19% decrease compared to the same period of the year before.
Yet they are satisfied anyway
Thierry Andretta, Chief Executive Officer of Mulberry, claimed to be proud of the accomplishments achieved by the company, which has been striving hard to play a role on the market as a “sustainable global luxury brand”. More specifically, Andretta emphasized the brand’s endeavours to turn its supply chain smart, flexible and more reactive. In so doing, they successfully managed to “reduce delivery times and consequently fulfil rising digital demand”. One more strategy, among others, implemented by the fashion house, is about prices. In other words, since April 2020, all over the world, Mulberry retail accessories have been for sale at the same price.
Read also:
