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Business News

Mulberry signals 'more rapid' growth this year

The luxury goods brand Mulberry expects its sales to rise "more rapidly" this year after growth accelerated in recent weeks.

The fashion house's wholesale revenues were "broadly flat" in 2009-10 but have rocketed by 84 per cent since the launch of its autumn 2010 collection, driven by soaring demand in Asia.

Godfrey Davis, the chief executive of Mulberry, said yesterday: "Our English heritage and craftsmanship in the current climate is proving quite popular."

Mulberry, which has 39 shops and concessions in the UK, said underlying sales rose by 44 per over the first 10 weeks of its new financial year.

For the year to 31 March, Mulberry's pre-tax profits were up 22 per cent at £5.1m, on sales 23 per cent higher at £72.1m. One of its bestsellers is the Alexa handbag, which sells for up to £800 and was named after the TV presenter Alexa Chung.