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Sportswear tycoon Mike Ashley is reportedly set to muscle his way onto the board of luxury brand Mulberry as he grows increasing tired of the company’s poor sales performance. Ashley’s Frasers Group owns a 37 per cent stake in Mulberry, but the brand is ultimately controlled by Malaysian billionaire Ong Beng Seng and his wife [...]
Thierry Andretta, said that a weak economic outlook is impacting the entire luxury industry and called for UK government to bring back VAT free shopping for international tourists
Mulberry’s pretax profit slumped in the year, despite an uptick in revenue, as increasing costs weighed on performance. In the year to April, the luxury handbag maker reported an underlying profit of £2.5m, down from £14.6m last year. On a reported basis its pretax profit was £13.2m, which took into account impairment reversals on some [...]
Fresh calls have been made to reinstate VAT-free shopping for international tourists, after the chief of Mulberry warned its profits have been hit hard by it as they ditch London for Paris and Milan. Pre-tax profit at the British handbag maker fell to £13.2m in the year to April, down from £21.3m the prior year. [...]
Despite a challenging macro-economic background, luxury fashion brand Mulberry has announced an “improvement” in retail revenue over the second half of the year in its trading update for the year ending 1 April 2023. The British heritage brand – known for its iconic handbags – reported that revenue was slightly ahead of last year, with [...]
Mulberry has said Covid restrictions in China have resulted in a one per cent dip in sales across its retail and digital channels so far this financial year. Stringent pandemic measures in mainland China meant the designer handbag maker was forced to temporarily shutter the majority of its stores, as well as its Shanghai distribution [...]
High-end accessories retailer Mulberry is beginning to feel the effects of the cost of living crisis and recession in the UK, with sales and revenue slipping over the past six months. Sales at its London stores on Bond St and Regent St have been hit hard by affluent tourists from the US and the Arab [...]
Luxury fashion brand Mulberry has said its group revenue for the year will exceed current expectations thanks to healthy sales. In a trading update for its financial year ending 2 April, the retailer said a “robust sales trend” marked in the first half of its 2022 financial year has continued. Group revenue and profit for [...]
In today’s episode of the City View, the daily podcast from City A.M., Editor Andy Silvester discusses the morning’s results – from a bumper Asian quarter for luxury fashion brand Mulberry to Britvic getting its post-lockdown fizz back. Andy is also joined by Amiad Soto, the Israeli entrepreneur behind short-term rental firm Guesty, on a [...]
The Covid-19 unlocking and booming sales in Asia have boosted luxury fashion retailer Mulberry, reveal new figures released today. Income at the London-listed retailer climbed 34 per cent to over £65m, up from £48.9m in the same period last year. Profits jumped to £10.2m, largely driven by the sale of shop leases in France. UK [...]
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