Strong digital performance and international sales boost Mulberry

Despite the growth, the group’s revenue fell 23% to £ 115m in the year, from £ 149.3m year-on-year.
// Mulberry sees international sales increase 4% to £ 33.8million
// The retailer’s digital sales rose 55% to £ 56.4million from £ 36.3million the year before

Mulberry returned to profit for the fiscal year ended March 27, thanks to a strong digital performance.

The retailer said it came after a year that saw its overall revenue hit hard by the impact of Covid-19 and the shutdown of the majority of its physical stores.

Group revenue fell 23% to £ 115million in the year through March 27, but digital sales rose 55% to £ 56.4million

READ MORE: Mulberry optimistic with ‘small’ profit forecast after closings

Digital sales accounted for 49% of total revenue as customers migrated to digital channels.

International retail sales increased 4% to £ 33.8million, with growth of 36% in Asia-Pacific driven by continued development in the region.

The retailer reported underlying pre-tax profit of £ 5.9million after recording a pre-tax loss of £ 14.2million the previous year.

“I was extremely proud to lead Mulberry this year,” said Thierry Andretta, Managing Director of Mulberry.

“Over the past 12 months, our teams have faced enormous challenges posed by the global health crisis and have responded with resilience, determination and passion.

“We have been able to leverage our position as an omnichannel leader, achieving very strong growth in Asia, and have served the communities in which we operate, including reallocating our factories to produce more than 15,000 reusable PPE gowns for workers. frontline of the NHS.

“We achieved strong financial performance and made good strategic progress on our journey to make Mulberry a leading global sustainable luxury brand. “

Group revenue is up 45% year-to-date, with retail revenue up 30% thanks to a solid rebound in the UK and continued development in Asia, with sales retail in China up 46%.

Mulberry released its Made To Last manifesto during the period, committing to shift the company to a regenerative, circular model by 2030, spanning the entire supply chain, from field to custody. -dress.

Today, 80 percent of the retailer’s collection uses leather from environmentally certified tanneries.

This figure is expected to rise to 100% by fall / winter 2022.

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