Mulberry grows 18 per cent as Christopher Kane's runway debut lends a hand
The British leather goods brand posted strong first-half sales growth, led by the US. Fewer discounts and the new creative director's London show paid off.
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Video: YouTube · Mulberry · youtube.com
Mulberry's sales rose 18.2 per cent at constant currency in the 26 weeks to September 26. Revenue grew 28 per cent in the US, 23 per cent in Europe outside the UK and 10 per cent in Britain. The share of discounted sales fell by 300 basis points. The shares rose as much as 7.4 per cent to 246 pence on Monday.
Chief executive Andrea Baldo called the growth in full-price sales "particularly encouraging". Demand was driven by classics such as the Bayswater and Lily bags as well as new styles. Full half-year results are due on November 19.
Mulberry credited Christopher Kane's first runway show for the brand, held on September 20 during London Fashion Week, with raising its visibility. Kane carried the flap of the Bayswater bag over to dresses and coats. His collection is not yet on sale. The show can be watched on Mulberry's YouTube channel.