Of all the major fashion houses, Mulberry had the best year in 2010, tripling its profits to 26 million euro. The forty year old bag producer owes its growth partly to its own retail – not in the least to its new Peking store.
Booming since focus shift
In its last financial year, ending in March, Mulberry’s turnover grew 68% to 138.35 million euro. Ever since the brand avoided home market troubles by focussing mainly on the American and Japanese market in 2005, their figures have gone through the roof each year, causing Forbes to call Mulberry “the new Prada”.
Following the success of strategic partnerships with fashion icons (like the one with Alexa Chung, resulting in the Alexa handbag triumph), Mulberry plans to continue the chosen track. Other plans for the future include new retail stores in the US, Korea, China and Germany.