Mulberry Store

Mulberry sees revenues rise

Luxury British brand Mulberry has seen revenues rise by 8% on the back of increased tourist spending.

Mulberry saw revenues rise by 8% to £168.1m and profits increase by 21% to £7.5m during the year ending 31 March 2017.

The results have been boosted by the establishment of the Mulberry brand in Asia and increased tourism spending in the UK.

New products introduced under the creative direction of Johnny Coca, including the new Zipped Bayswater, also continued to gain momentum.

Thierry Andretta, chief executive officer, said: "During the year we have made good progress.  Our sales and profits are growing, enhancing our strong cash position.

“We have advanced our international growth strategy with a new partnership in Asia and the continued expansion of our omni-channel offer in key markets.

“We have generated strong creative momentum with new products that are well received by our existing and new customers.

“Looking ahead, we will continue to invest in advancing our international development and increasing Mulberry's relevance to our customers' rapidly evolving lifestyle."

Mulberry also saw revenue from digital channels increase by 19% to represent 15% of its total group revenue (2016: 14%) with localised sites introduced in China and Korea.