Mulberry issues upbeat outlook driven by international retail sales

British accessories brand Mulberry has posted a positive outlook on its current trading for the first 12 weeks of the financial year, during which time its revenues were reported to be 6 percent ahead of the year prior.

International sales were at the forefront, coming in at 46 percent above the previous period’s results, with Asia Pacific retail sales particularly driving the way at a 34 percent increase.

Meanwhile, retail sales in the UK fell in line with the same period last year due to the current economic climate, confirming the company’s expectations.

Overall retail sales were up 15 percent, while Mulberry’s wholesale revenue rose 5 percent.

Furthermore, the company also stated that it had made recent acquisitions of businesses in Sweden and Australia, as well as acquiring full ownership of Mulberry Japan as part of its efforts to expand the group’s direct-to-consumer strategy.

In a regulatory filing, Thierry Andretta, CEO of Mulberry, commented: “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.”