Mulberry, the British luxury fashion brand, has some good numbers to show!
The fashion retailer has posted an underlying pre-tax profit of £5.9 million for the year that ended 27 March 2021.
That’s quite a good number compared to the pre-tax loss of £14.2 million recorded by the retailer a year before.
Notably, Mulberry’s international retail sales rose by 4 per cent for the year to £33.8 million. While in China, retail sales shot up by a huge 81 per cent, it was a 36 per cent jump in South Korea. However, in rest of the world, the retail sales slumped by 27 per cent.
As far as digital sales were concerned, the retailer saw a massive jump of 55 per cent to clock £56.4 million – compared to £36.3 million a year earlier.
Importantly, digital sales constituted 49 per cent of Mulberry’s total revenue, which is a 24 per cent jump from what it was last year.
The Group revenue, however, dropped by 23 per cent to £115 million from £149.3 million in 2020. The fall was attributed to lockdowns that not only led to store closures but at times also factories.
The retailer said that despite all constraints, the Group revenue was still 45 per cent ahead of last year.
Mulberry, known for its clothes and bags, has stores all over Europe, the US, Asia and Australia.