Mulberry interim results show strong recovery

United Kingdom
Published:  30 November, 2021
Credit: Mulberry

The British luxury leather goods brand has released its half-year results ending September 25, 2021 and has seen revenues increase significantly. 

Group revenue increased by 34% on 2020 results to £65.7 million (US$87.7 million), while profit before tax came in at £10.2 million (US$13.6 million), a significant jump from 2020’s result of a £2.4 million (US$3.2 million) loss.

Retail sales in the UK increased by 36% to £38 million (US$50.7 million), US retail sales increased by 57% to £3.3 million (US$4.4 million) and retail sales in China increased 38% to £11.8 million (US$15.8 million), contributing to a 23% increase in retail sales across the Asia Pacific region. International retail sales represented 40% of the group’s revenue, down from 41% in 2020.

The group reports that the business infrastructure responded well to increased demand following Covid-19 restriction easing. Digital sales made up 29% of group revenue for the period, lower than 2020, but still up from 20% in 2020.

Thierry Andretta, Chief Executive Officer, commented: "Our long-term strategy, namely our innovative and sustainable products made in our carbon neutral Somerset factories, our market-leading omni-channel distribution model and our expansion into Asia Pacific has delivered a strong financial performance.”