Mulberry's profits rush
Its new Alexa handbag – named after the "modern British style icon" television presenter Alexa Chung – was an immediate best seller and helped group sales accelerate during the second half of its financial year.
Revenues rose 23 per cent to 72.1m and profits hit 5.1m in the year to March 31, but Mulberry said the sales growth would have been stronger if it had not sold out of a number of key lines. It has ramped up production but said the complex nature of its items meant many popular ranges will continue to be in short supply if demand remains strong.
Mulberry – whose bags sell for as much as 3,000 – has a shop in Leeds with a concession in the city's Harvey Nichols' store. Picture: catwalking.com