.MulberryEngland returned to pre-pandemic growth in the fiscal first half, and swung back into the black.
. “Our long-term strategy, namely our innovative and sustainable products made in our carbon neutral Somerset factories, our market-leading omnichannel distribution model, and our expansion into Asia Pacific, has delivered a strong financial performance.”
He said that Mulberry wants to be “fully transparent” with the customer, and believes that shopping sustainably should not carry an extra financial burden. The company’s turnaround in the first half follows a difficult 2020: the company waved goodbye to its designer, who moved back to Paris to work for Louis Vuitton; laid off some 25 percent of its staff during the first lockdown in the U.K.; and terminated its ready-to-wear and footwear licenses as it put increasing emphasis on accessories, and sustainability.
On the sustainability front, Mulberry said the Lifetime Service Center at The Rookery manufacturing hub in Somerset is restoring more than 10,000 bags a year. “We believe the opportunity is substantial, and we have taken a progressive leadership position in this space, investing in products that are made to last, and offering customers circular repair and buy-back options through the Mulberry Exchange,” the company said.Profit before tax was 10.2 million pounds in the first half, compared with a loss of 2.4 million in the corresponding period last year, and included a profit of 5.
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