Mulberry delivers year of ‘decisive progress’
Mulberry has delivered a year of “decisive progress” in its turnaround, with revenue climbing by 5.7% on a constant currency basis in the 12 months to 28 March.
The luxury brand saw particularly strong growth in the second half of the period, when sales jumped by 13.6%.
Subscribe to TRBMulberry attributed the performance to the success of its ‘Back to Mulberry Spirit’ strategy, which is gaining traction across all regions, with like-for-like sales growth in every market in the second half. The company has also taken a disciplined approach to full-price selling and a reduction in discounting.
During the year, Mulberry worked to re-engage its existing customer base and attract new customers across its retail and digital channels. It also invested in strengthening its positioning as a distinctive British lifestyle brand, supported by a tighter, more focused product offer and improved availability.
Andrea Baldo, chief executive of Mulberry, said: “This has been a year of decisive progress. Despite a challenging economic and geopolitical environment, we have delivered growth across all channels and geographies, with clear momentum right across the business.
“This performance reflects the disciplined execution of our ‘Back to the Mulberry Spirit’ strategy, and demonstrates that our turnaround is firmly underway.
“The early results are clear: improved sales quality, stronger margins and growing engagement from both existing and new customers.”
Last month, Mulberry appointed fashion designer Christopher Kane as creative director of women’s ready-to-wear. His first collection for the brand will be unveiled in September and will be available in stores and online from January 2027.
Looking ahead, Baldo said: “While we remain focused on the work ahead, we are building momentum at pace. We are confident in our strategy and in our ability to build a sustainable, profitable business for the long term.”
