Alexa Chung is rarely seen without a Mulberry bag
Mulberry have reported a sharp jump in their annual profits.
The company, which is continuosly growing from strength-to-strength, revealed that it has made £36m in profits for the year to March.
The brand is best known for their luxury leather handbags, but also boasts a successful fashion and accessories range.
The company, which is based in Somerset in the west of England, is continuing to expand with plans to open a second factory in the county, doubling production and creating 300 jobs.
Internationally, it plans to open another 16 stores.
The good news is revealed after they won International Designer of the Year (for use of a Scottish Fabric) - sponsored by Tonu & Guy at the Scottish Fashion Awards earlier this week.
Jaana Jätyri, CEO of fashion trend forecaster, Trendstop.com, commented on the news:
"Like Burberry, Mulberry is a brand that caters for mainstream consumers, increasingly those in Asia, that aspire to luxury, especially quintessential English luxury. It's an ‘entry level’ luxury brand and is much less expensive than the likes of Chanel, Louis Vuitton and Prada
.
"Mulberry has shown a knack for savvy celebrity partnerships with Alexa Chung and, more recently, Lana Del Rey, via the ‘Alexa’ satchel and the ‘Del Rey’ sell-out It bag. Mulberry has its finger on the commercial as well as fashion pulse.
"Given Mulberry's strong position, for Bruno Guillon it is more a case of riding the wave than redirecting Mulberry's strategy. It is already moving in the right direction. The fact that is it growing even in the UK shows the strength of its market position."
Mulberry said store sales were up 12 per cent for the 10 weeks to last Saturday as it comes up against tougher comparatives with a year earlier and as trading conditions become more difficult.
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