Over the past two years the group lowered the price back to 500-1000 pounds of “light luxury” after the level of performance has stabilized, is to stimulate growth in the Asian market expansion, this year in Chinese and Japan established a joint venture company, and has been in Shanghai and Hongkong opened a new store.
In half of the fiscal year 2017 in September 30th as Mulberry Group, PLC Mai baoruitong’s retail sales year-on-year growth of 2% to 56 million 600 thousand pounds, but same store sales fell 1%, accounting for more than 60% of the UK group sales recorded a 1% decline, the international market fell 3%. Wholesale sales were reduced by 6% to 18 million on the same year. The group sold a total of 74 million 576 thousand pounds, almost 74 million 505 thousand in the same period last year, while the Barclay PLC Barclays Bank is expected to grow by 3.9%.
But in the second half of the fiscal year ended December 2nd, retail same store sales recovery rose 1%, but the British native to recorded a decline of 1%, mainly because of the needs of the local soft offset continued growth in visitor spending; the international market has benefited from customers on the new series of continuing and increased 12%.
CEO Thierry Andretta said in a conference call after the earnings of foreign visitors in London a vibrant, good trend unabated, the brand is also taking advantage of centralized price to promote sales of products, reduce the discount. The joint-venture business in Japan has been showing initial signs of success. The group has already opened 5 stores, and China’s expansion will be gradual at the specific location, and online business will also push ahead. The European and North American markets focus on improving the productivity of existing stores, while at the same time strategically refurbishing the store network and maintaining a limited expansion of new stores.