Reuters
UK’s Mulberry gears up for Christmas as sales rise to pre-pandemic levels
The company, which was forced to cut 25% of its staff in 2020 due to weak demand, said sales trends have improved in October and November, but warned that any restrictions during the festive period could affect its upbeat outlook. Best known for its leather bags, Mulberry has benefited from store reopenings in the UK, with strong growth in Asia helping it offset weakness arising from the absence of tourists in the domestic market and the closure of some stores in Europe. Earlier this month, consultancy Bain had predicted that the luxury goods sector would rebound this year from the health crisis due to higher spending in the United States and China, particularly on high-end shoes, leather goods and jewellery.
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