£23m profit on Mulberry’s 40th Anniversary
20-06-2011
£23m profit on Mulberry’s 40th Anniversary
Founded in 1971 and now with 86 stores world wide, Mulberry celebrates its 40th Anniversary with pre tax profits of £23.3 million. With only £5.1 million being made in the previous 12 months, the demand for Mulberry has rocketed phenomenally. By more than quadrupling their annual profits, Mulberry is expanding at a rapid rate. And it has been reported that the growth continued for the 10 weeks into June, at up to 42%, with international revenues having more than doubled to £40.5 million in the same period.
With claims that the company are up by 69% in the year, to £121.6 million, it’s no wonder Mulberry are overjoyed to be celebrating their anniversary in style. Online sales were up by 64% to £9.2 million, and the company has had to create about 50 manufacturing jobs to cope with demand. Having opened 9 stores in the last year, including in China, Malaysia and Qatar, as well as a flagship store in New Bond Street, (London) there are plans for more openings in New York, Amsterdam, Germany and Korea.
The quintessentially British brand, has built up this large clientele through the media, and through collaborating with brand Target, and artists such as Paul Hosking Philip Jones, Peter Jones, Kate Davis and Simon English. The alexa bag started its own fame through celebrity icon Alexa Chung, who has helped define the brand’s image. Selling only the finest in British leather goods, Mulberry has a reputation for delivering outstanding English- Countryside inspired accessories.
In celebration of their milestone birthday the company has released a book. Retailing at £55.00, ‘the Mulberry book’ promises to please, with images spanning across two years of the brand’s success. Taking nearly 3 years to make, the book has been described as a real labour of love. Including pictures of the red head S/S11 models parading down the catwalk, to the behind the scenes images, of the brand’s factory. The mulberry book is now available online, and in Mulberry stores.
Photo taken from The Mulberry Book
By Jennie May Thompson
