Mulberry has recorded a rise in international sales and revenue as it builds on delivering “strategic objectives” despite “macroeconomic uncertainty”.

Mulberry store display

Mulberry made progress on its sustainability targets and DTC model

UK retail sales edged down slightly from £88.5m to £87.7m in the 52 weeks to April 1, but international retail sales increased 12% to £46.5m.

Group revenue increased by 4% to £159m and retail sales in Asia Pacific rose 3% to £28.9m, despite lockdowns in the region.

Digital sales edged up 2% to £48.4m, which represented 30% of total revenue for the luxury fashion brand.

Mulberry’s outlook for the new financial year is positive as group revenue for the first 12 weeks are 6% ahead of last year and retail revenue was up 15%.

Mulberry chief executive Thierry Andretta said: “We have delivered a positive group performance this year thanks to our unique brand identity, beautiful innovative products and market-leading omnichannel proposition.

“Our ‘Made to Last Manifesto’ also continues to set us apart and ensures that sustainability remains central to our strategy, with our ambition to transform to a regenerative and circular model across our supply chain by 2030 firmly on track. We made further progress during the period, reaching our target of sourcing 100% of our leather from tanneries with environmental accreditations including Leather Working Group and Sustainable Leather Foundation, while all other materials and packaging used remain fully sustainable and recyclable. We continued to expand our circularity programme offering our pre-loved bags in the UK and Europe and restoring over 10,000 bags every year.

“We have made significant investments in the company this year, as well as expanding our direct-to-customer model with the recent acquisitions of businesses in Sweden and Australia. I am also delighted today to announce we now have full ownership of Mulberry Japan Co Ltd. These investments were supported by our transformation function, designed to support the delivery of our strategy, with a particular focus on projects and systems that will underpin our growth in the longer term.

“We are well set for the year ahead with the right strategy in place to deliver on our growth plans. Finally, I want to thank colleagues for their continued dedication to Mulberry, bringing their creativity and commitment to our business.”