The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — Britain's Mulberry, known for its classic leather handbags, posted a 2 percent rise in retail sales in the first half of its fiscal year and flat total revenues, at a time when it is making a greater push into Asia.
The company has lowered prices over the past two years to go back to its roots as an "affordable luxury" label, after an ill-fated attempt to go more upmarket, and is developing its business in Japan.
Mulberry's retail sales reached £56.6 million in the six months to the end of September, up 2 percent from the same period in 2016.
They were down 1 percent, however, on a like-for-like basis, which compares stores that have been trading for a year or more.
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Total revenues, including from wholesale distribution, were broadly unchanged from a year earlier while the group posted a pre-tax loss of £609,000 versus a £515,000 loss a year earlier.
By Sarah White; Editor: Sudip Kar-Gupta.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.