Mulberry bags a profit boost as luxury products sales are back at pre-pandemic levels|


Mulberry said the demand for its luxury items had returned to pre-epidemic levels and sales in the UK and Asia were contributing to rising prices as they plan to profit from vacation time.

A leather goods retailer, who cut 25 percent of its staff last year due to power outages, said the trade went well in October and November but any restrictions during the holiday season could derail his plans.

Group spending in the six months to September 25 rose to $ 65.7 million, up 34 percent, helping Mulberry make a profit in front of a $ 10.2 million tax return compared to a loss of $ 2.4 million last year.

Shares earned 68p or 22.5 percent to close at 370p. Since January, shares have risen 62.3 percent.

Thierry Andretta, chief executive officer, said the company’s mission was to “continue to lead the top companies” and “was very proud of our team’s achievements”, noting that the change was sticking to its long-term plan to create its own store. and online services.

“Once you’ve been online, you want to enjoy life and have a good customer. It’s a valuable thing, the experiences are very different, customers want to compare or ask questions,” he said.

Andretta said Mulberry has refused to lower prices and the limit is 69 percent.

Established in Somerset in 1971, Mulberry has 40 UK stores with strong presence in South Korea, Japan and China. They employ about 1,200 people.

The company says in the next six months it will spend a lot of money from its “big money” on marketing to promote brands around the world. China is a target designed for “the most affordable home size”, according to Andretta.

The company said its British factories and good planning had helped to address the financial crisis.

Retail sales over the eight weeks to November 20 rose 35 percent compared to last year.

Retail sales in the UK rose by 36 per cent to £ 38 million, £ 10 million more than last year. Global retail sales make up 40 percent of the group’s revenue. Digital sales were £ 19.1 million, a fall of 19 percent last year when stores closed, but this was offset by a 87 percent growth in stores, generating £ 36.5 million.

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