Mulberry hit as tourists stay away
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.