Despite challenging market conditions Mulberry returns to growth

Despite challenging economic and geopolitical environment Mulberry's sales increased by 5.7% in the full year of 2026, with growth recorded across all channels and geographies in the second half of the year.

The Group's CEO, Andrea Baldo, credits Mulberry's "strong performance" in the 52 weeks to 28 March 2026 to the disciplined execution of its 'Back to Mulberry Spirit' strategy, adding that the brand's turnaround strategy is now firmly underway. 

In the second half of the 2026 the brand recorded growth in all of its markets, with the UK seeing a 13.7% boost in like for like sales. In the EU (excluding the UK) Mulberry also saw an increase of 37.8%, while the US recorded a 20.1% growth, and the Asia Pacific market recorded a 20.8% increase.

The strategy focuses on simplifying the business, reigniting the brand, and strengthening its connection both to its existing and new customers. Across the last financial year it has seen the brand focus on driving full price sales and a reduce discounting, both of which have supported improved gross margin.

As part of its turnaround strategy the brand appointed Christopher Kane as Ready-to-Wear Creative Director, marking a further step into its efforts to re-establish its creative leadership.

"While we remain focused on the work ahead, we are building momentum at pace. We are confident in our strategy and in our ability to build a sustainable, profitable business for the long term," commented Baldo. 

At the beginning of the month the brand launched its latest campaign, which forms part of the strategic repositioning, featuring the artisans and craftspeople working at one of its original factories, the Rookery in Somerset.

The campaign launches included a series of portraits and stills shot by long-time collaborator Tim Walker, showcasing select Mulberry handbag styles in the hands of seven of its craftspeople at their workstations on the Rookery factory floor.

The turnaround strategy has already seen success last year, with the brand recording growing customer demand, which translated into a 5.3% increase in group sales over the festive trading period 2025.

Baldo, added: "This has been a year of decisive progress. Despite a challenging economic and geopolitical environment, we have delivered growth across all channels and geographies, with clear momentum right across the business. This performance reflects the disciplined execution of our 'Back to the Mulberry Spirit' strategy, and demonstrates that our turnaround is firmly underway.

"We are simplifying the business, restoring full price discipline, strengthening our connection with customers, and reasserting Mulberry's position as a distinctive British lifestyle brand. The early results are clear: improved sales quality, stronger margins and growing engagement from both existing and new customers.

"At the same time, we are reigniting creativity and since announcing the relaunch of Ready-to-Wear under Christopher Kane leadership, we have seen a remarkable engagement from the industry as a whole, including leading partners ranging from Selfridges in the UK and The Webster in the US to a growing numbers of other prestigious doors."