Mulberry Handbags selling well despite the recession.posted on 3 January 2010 | posted in Handbag and fashion Articles
If you had unlimited funds, would you spend thousands on a handbag, just to say 'look what I've got, well would you? I bet you would.
The following is a news article from The Mail Online
Mulberry makes bags of money despite recession
Mulberry said demand for its luxury handbags, which costs up to £3,000, have soared by almost 50 per cent year-on-year despite the recession.
The firm said its total UK sales in the 10 weeks to December 5 were 46 per cent above last year as it forecast results 'substantially ahead' of market hopes.
Mulberry's best-selling bag was the Daria, which was launched in August and costs £650. The firm also reported strong demand for its new Alexa range.
Sales have been boosted by an influx of overseas shoppers taking advantage of the weak pound.
The figures were also flattered by comparisons with weaker trading a year ago.
Nevertheless Mulberry said the underlying trend showed 'strong growth'.
Pre-tax profits were up 16 per cent to £1.5million in the six months to September 30, on revenues 16 per cent higher at £32.3million.
Shares jumped 20% as the company said: 'The outlook is positive and on current trends the results for the year will be substantially ahead of market expectations.'