Luxury handbag maker Mulberry recovering from the pandemic faster than thought
Mulberry said ‘robust’ sales in the first half of the financial year ‘continued throughout the second half’
Mulberry is recovering from the Covid-19 pandemic faster than expected.
The luxury fashion house said ‘robust’ sales in the first half of the financial year ‘continued throughout the second half’. As such, the British bag maker said revenues for the full year will be ‘moderately ahead of current expectations’.
The company, which makes around 60 per cent of its goods at two plants in Somerset, said it has increased spending on marketing ‘to further build global brand awareness’.
The firm was founded in Somerset in 1971 by mother and son Joan and Roger Saul and has become renowned for its leather goods, favoured by the likes of model Alexa Chung.
Russ Mould, investment director at AJ Bell, said: ‘The company is putting a strong balance sheet to good use by investing in marketing to boost awareness of the brand globally.
‘This is what companies should be doing, namely investing in the business.’