Mulberry Profits Up 231 Percent


Mulberry profits up 231%
Photo: Imaxtree
A look from the Mulberry Spring 2012 runway

Life is looking pretty good for the folks at Mulberry.

After getting some sartorial support from the Duchess of Cambridge, who wore their Fall 2011 Peace & Love dress on November 28, the British brand is enjoying a rosy financial outlook, Reuters U.K. reports.

The label is crediting an expanded presence in Asia for its impressive 231-percent rise in pretax profits for the first six months of the fiscal year, which currently total $24.5 million.

With new stores on the continent helping Mulberry, which reported quadrupled profits earlier this year, more than double its international revenue, wholesale shipments are also up a healthy 93 percent.

The 40-year-old label now has plans to open nine more retail outposts (including locations in Singapore, South Korea, Tokyo, and Osaka) in 2012, and has signed a 10-year distribution deal to sell its products in Japanese department stores.

Still, it's not all about the East.

"Asia is the fastest-growing market, but actually we still have plenty of areas to penetrate in Europe and the States, so those are growing very strongly as well," chief executive Godrefy Davis tells Reuters. "We like to spread the risk."

Mmm, yes. Can you please spread it this way? We've got an Alexa itch that needs to be scratched.


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