Mulberry, the UK-based maker of luxury handbags, is increasingly setting its sights on the booming Asian market, as it lifted pre-tax profit by 22 per cent in the year to March.
Godfrey Davis, chairman and chief executive, said sales to department stores in Asia were expected to rise by 200 per cent this autumn, as demand for the brand grew, and the stores themselves expanded. “Our Asian business is growing very rapidly, and that is very much our management objective . . . to build our business in major international [markets].”
Mulberry's brand penetration had increased significantly in Asia, and to a lesser extent in the US.
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