Mulberry luxury bag sales surge globally
Luxury Mulberry bag sales increased by 23% during the first quarter of the year, supported by the launch of new products such as the family-sized Boston bags, which helped regain customer interest and drive the company's recovery. The company's strategy, which focuses on brand value rather than short-term sales and avoids discounts, has led to increased demand and improved performance across all regions. Additionally, gross margins rose to 72%, and the company achieved a net profit of £0.8 million. It continues to aim for revenues exceeding £200 million and an operating profit margin of 15%.
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