Mulberry closes Paris store amid drop in tourism
Mulberry is closing its Paris store but has pledged to return to the French capital once international tourism resumes.
The British luxury house is exiting the lease of its 275 Rue Saint Honoré store early, which it said would provide a £10.8m post-tax cash boost and support future investment opportunities.
Mulberry said it would open a new store in Paris once tourism reaches close to pre-pandemic levels – Paris, like London, has been hit by the slump in international travel since the Covid crisis began.
"The objective will be a location which supports the company's omni-channel approach and optimises its customer centric retail experience," the company said in a statement.
Shares in Mulberry were up 1.67% at 305p at lunchtime Tuesday 6 July.