Wednesday 25 April 2018

Mulberry reveal profits of €44 million

Singer Lana del Rey
Singer Lana del Rey

The Mulberry magic shows no sign of wearing off. The luxury British brand has just reported a 54% rise in profits to £36 million (€44m) for the year to March 31.

Much of the brand's success is still attributed to the 'Alexa' bag - inspired by TV presenter/all-round style maven Alexa Chung - although the newer 'Del Rey' style - named after American singer Lana Del Rey, Mulberry's latest girl du jour - was launched last month and is currently selling like hot cakes.

Lana was delighted when the company created the bag in her name.

“I’m just very honoured,” she told ‘Grazia’ magazine earlier this year.

“I was talking to [Mulberry Creative Director] Emma [Hill]… and she had started listening to [my record] six months ago and she really loved it, just for herself. And I think we related to each other because I try and keep a lot of integrity and I don’t compromise lyrically or sonically, and I think she feels the same way when she’s designing, so hoped we could do something together.”

Mulberry cited successful trading in Asian markets and a 30% rise in sales from their 45 stores and department store concessions, the boost will enable Mulberry to open a second £7.5 million factory in Somerset, creating 300 jobs.

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