Mul­berry hit as tourists stay away

Daily Mail - - City & Finance -

LUX­URY hand­bag maker Mul­berry is plough­ing ahead with a flag­ship store in Lon­don de­spite slid­ing sales.

UK sales were down 9pc in the ten weeks to June 2 as fewer tourists vis­ited the coun­try and shop­pers de­serted the High Street.

The slump came just weeks be­fore the com­pany, which has fea­tured a col­lec­tion cre­ated by model Georgia May Jag­ger ( pic­tured), opens its new 5,000 sq ft flag­ship store on Re­gent Street. An­other 26,650 sq ft of space is due to be opened up later this year.

Chief ex­ec­u­tive Thierry An­dretta said: ‘We are fully com­mit­ted and still have a pos­i­tive view of the UK de­spite the past ten weeks.’

Mul­berry an­nounced plans to ex­pand into South Korea, where de­mand for lux­ury goods is soar­ing.

Mul­berry said that smaller bags are back in fash­ion, par­tic­u­larly among younger buy­ers who need only enough space to carry a smart­phone. Its Am­ber­ley hand­bag, which it launched last year, has quickly be­come the best­seller in every mar­ket world­wide.

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