The pre-tax profit of British fashion retailer Mulberry rose by 363 per cent to £21.3 million in the year that ended 2 April 2022 from £4.6 million in the year-ago period. As per a Apparel Resources report, the retailer’s revenue increased 32 per cent to £152.4 million during the period. The strategic decisions by the company enabled it to increase its financial results, says Thierry Andretta, CEO, Mulberry. Reducing its promotional activities, the retailer focused more on its full-price channels during the year.
The brand has fully integrated its brick-and-mortar and digital sales channels. Its digital penetration continues to increase despite 16 per cent fall in online sales, adds Andretta. In future, the brand aims to closing stores and opening in better locations. Founded in 1971, Mulberry is known for luxury leather goods and fashion accessories.
