Luxury handbag company reports upturn in fortunes

SOMERSET-BASED luxury handbag manufacturer Mulberry has posted robust sales figures over the Christmas trading period, suggesting its transformation plan is starting to bear fruit.

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The Chilcompton-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.