Photo By Edwardx [CC BY-SA 4.0] via Wikimedia Commons
This week, Mulberry is said to reveal an increase in sales as the brand updates traders regarding its expansion in Asia.
According to Barclays, group revenue is anticipated to rise by 3.9 percent from £74.5m to £77.4m for the year’s first half. Retail sales are projected to grow by six percent, with wholesale sales down by two percent.
Barclays said that revenue growth is anticipated to be “a little difficult” for Mulberry due to its dependence on customers in the United Kingdom. However, the analysts are expecting an update regarding the joint venture projects of the brand in Asia. The group has recently opened new shops in Shanghai and Hong Kong.
Margins are projected to increase as the luxury retailer improves the brand’s efficiencies in its manufacturing; the business produces half of its leather bags in Britain. The company has repositioned its product since Thierry Andretta was appointed as chief executive in 2015, reducing bag prices from more than £1,500 to between £500 and £995.