Mulberry foresees big growth overseas
Source: Agencies |
June 17, 2011, Friday
|
Print Edition
Print Edition
BRITISH luxury fashion brand Mulberry said it expects overseas sales to overtake those in its home market in two years, as it beat forecasts with a more than fourfold increase in profit.
Shares in the firm, best known for its leather handbags priced around US$809-US$1,455, rose more than 6 percent yesterday after the company outlined its potential for expansion, particularly in China and the United States.
"Probably in the year after next the sales to the rest of the world will exceed the UK and that trend will continue," Chairman and Chief Executive Godfrey Davis said.
"We have two shops in New York so there's quite a lot of the United States to go at, we've got one shop in Beijing so there's quite a lot of China to go at," he said.
Mulberry designs, manufactures and sells leather goods and accessories.
Shares in the firm, best known for its leather handbags priced around US$809-US$1,455, rose more than 6 percent yesterday after the company outlined its potential for expansion, particularly in China and the United States.
"Probably in the year after next the sales to the rest of the world will exceed the UK and that trend will continue," Chairman and Chief Executive Godfrey Davis said.
"We have two shops in New York so there's quite a lot of the United States to go at, we've got one shop in Beijing so there's quite a lot of China to go at," he said.
Mulberry designs, manufactures and sells leather goods and accessories.
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