Mulbery shares jump after return to pre-pandemic sales levels
The handbag maker Mulberry has reported a return to pre-pandemic sales levels as it said its UK factories had allowed it to avoid the supply chain disruptions that have dogged some fashion rivals.
The British luxury brand reported revenue increased 34% to £66m in the six months to 25 September, compared with £49m in the same period in 2020. Half-year revenue was £69m two years earlier.
Mulberry had been a takeover target for the retail tycoon Mike Ashley after a difficult 2020 in which it cut one-quarter of its global workforce. But on Wednesday the company said UK sales had recovered strongly after the end of the last Covid-19 lockdown. Rising sales in Asia also made up for the loss of lucrative tourist traffic in its home market, it added.
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