How Mulberry is using omnichannel to expand and raise brand awareness around the world
Mulberry today set out how it is using omnichannel retailing to expand internationally as part of its strategy to grow as a global luxury brand.
The luxury leather manufacturer and retailer, a Top350 retailer in IRUK Top500
research, said it had launched localised mulberry.com websites in China and Korean. A new Mulberry Asia joint venture with Challice Ltd will focus on developing the brand in China, Hong Kong and Taiwan through an initial platform that includes four stores, wholesale and omnichannel selling, including the Chinese language mulberry.com site.
Improvements have also been made to its Australian and Canadian websites, while omnichannel capabilities have been developed in the US market. Mulberry now plans to continue investment in omnichannel, improving its range of omnichannel services in order “to match rapidly evolving consumer buying behaviour”.
It will also invest in building the brand, using digital, mobile and social media to promote understanding of Mulberry as an essentially British brand that is made in England.
The update came as Mulberry reported revenue of £74.5m in the six months to September 30 2016, and pre-tax losses of £0.5m, down from a profit of £0.1m last time, after greater investment in products. While retail sales of £55.4m were 10% up on the same time last year, or 7% on a like-for-like basis that strips out store openings and closures, global digital sales rose by 32% to £10.4m, and accounted for 14% of group sales.
In the UK alone, retail sales, including digital, reached £45m, 12% up on the same time last year, or 7% on a like-for-like basis.
Chief executive Thierry Andretta said: "Mulberry's new collection under the creative direction of Johnny Coca has been well received by our existing customers and a new audience. We have strengthened our balance sheet with tight inventory management leading to strong cash generation, enabling us to invest in international development and new products. The new business announced today in North Asia will progress our strategy of developing our retail and omni-channel model in key luxury markets.
"The UK and global outlook has become more uncertain since we last reported, however we are in a good position to continue to build our business."