Somerset-based luxury handbag maker says global like-for-like sales rose 11% for the 13 weeks to December 27, with Europe leading growth
Mulberry teamed up with Wicked star Cynthia Erivo for a campaign to relaunch its Roxanne bag collection(Image: Mulberry/PA)
Luxury handbag manufacturer Mulberry has posted robust sales figures over the Christmas trading period, suggesting its transformation plan is starting to bear fruit.
The Somerset -headquartered firm said worldwide retail and online like-for-like sales climbed 11% during the 13-week stretch ending December 27, thanks to its new business strategy.
Mulberry – which partnered with Wicked star Cynthia Erivo for a promotional drive to resurrect its Roxanne bag range – witnessed its most vigorous expansion across continental Europe, where like-for-like sales surged 27.2%. In contrast, UK like-for-like sales advanced 6.5%.
The company’s stock price leapt by as much as 10% during morning dealings on Wednesday, before stabilising approximately 5% higher.
Andrea Baldo, Mulberry’s chief executive, said: “While there remains plenty more to be done, it is encouraging to see the early signs of our Back to the Mulberry Spirit strategy delivering.”
The business initiated a comprehensive overhaul in late 2024, resulting in 85 redundancies – representing roughly a quarter of its personnel. Additionally, it secured £20m last June to underpin its restructuring efforts, following a 21% plunge in turnover during 2024.
November saw the firm announce it had more than halved its losses. “We’re still early in the turnaround, but the foundations we’ve put in place are working, and we’re starting to see that reflected in performance,” Mr Baldo said at the time.
In its latest trading statement, the firm revealed that a strategic pivot back towards the UK market and British consumers has been instrumental in driving expansion “amid a backdrop of more challenging growth in the wider retail market” as part of its recovery plan.
December saw a deceleration in sales momentum for UK retailers, with overall retail turnover climbing just 1.2% year-on-year – a significant drop from the 3.2% growth recorded the previous December, figures from the British Retail Consortium and KPMG show.
The fashion industry has particularly struggled to keep pace with food retail during the Christmas trading period, as businesses contend with tentative consumer sentiment and mounting pressure from digital competitors.
Yet despite these headwinds across the retail landscape, Mulberry achieved notably robust performance in its full-price retail operations, posting a 19% increase on a like-for-like basis.
Mr Baldo said the brand is entering 2026 with “good momentum” and remains “laser focused on continuing to deliver our strategy and build a sustainable, profitable business for the long term”.
