Mulberry has released its half-year results for the twenty-six weeks ending 30 September 2023. During this period international revenue grew by 34 per cent to £23.5m and UK retail sales rose by 6 per cent to £36.2m. However, the retailer made significant investments in digital systems, stores and product development, which led to its losses widening to £12.3m.
Thierry Andretta, CEO, Mulberry Group said: “Against a challenging macro-economic backdrop, which is impacting the entire luxury landscape, we have continued to invest in our long-term future.
“Our strategy to transform our international businesses to a direct-to-consumer model has enabled us to control the entire customer experience in Sweden, Australia, New Zealand and Japan. Our investments in the period in our digital systems, stores and product will power future growth.
“As one of the most iconic British luxury brands, product innovation remains at the heart of Mulberry. Our recent product launches, the Islington, Pimlico and Lana have been well received by customers, which is testament to our heritage, fresh designs and modern craftsmanship.
“Looking ahead, we are well placed to capitalise on the important festive trading period and expect the usual second half weighting to trading.”
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