Mulberry Bags a Profit Following Online Sales Boost

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Somerset based Mulberry have recorded a soar in profits following a boost in online sales.  Further growth is also anticipated following investment in new products and a new collection from their newly appointed creative director, Johnny Coca.

After an attempt to move upmarket and compete with brands such as Gucci and Dior, Mulberry have now re-evaluated their business structure and moved towards an affordable luxury brand.  With prices being cut and spruced up ranges, Mulberry have seen an 8% increase in like for like sales from 2015.

The first collection by Johnny Coca was well received by the press and the company partners and was showcased at London Fashion Week in February and following on from that success, there are talks of another factory being opened in the UK.

Mulberry have also recently revealed plans to close three stores in the US and are moving their focus to improving their current stores and stepping up their digital business.  Since 2015, they have seen a 19% increase in digital sales which has been boosted by website upgrades and improved delivery.

The lesson here is that sometimes it is good to take a step back and re-evaluate your business plan, and small changes to the infrastructure can lead to big changes to your profits which may or may not lead to the purchase of numerous Mulberry bags!

If you would like to discuss your business or would like assistance with restructuring, please contact Pauline Rigby in the Corporate & Restructuring team at Forbes on Freephone 0800 689 0831 or send any question through to Forbes Solicitors via our online contact form.

Pauline Rigby

About Pauline Rigby

Pauline Rigby is Head of the Corporate and Restructuring team at Forbes Solicitors. Pauline’s blogs cover a wide range of corporate issues, specifically areas including company formation, banking, joint ventures and shareholder matters, contractual matters and equity fundraising or investing.
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