Mulberry Proves Endorsements Aren’t Dead
THE ALEXA HOBO IN PLUM, COURTESY MULBERRY
Mulberry, the British luxury brand notable most recently for its upcoming Target collaboration (which launches this Sunday), revealed that its sales are up 79% for this quarter, thanks in part to endorsements from celebrities like Alexa Chung. The Alexa line retails for up to £795, or $1250 in the United States, and it’s a Mulberry bestseller. The Independent reports: “In a trading update, Mulberry said its booming sales meant its full-year profits for the year to 31 March would ‘significantly exceed’ market expectations.” Mulberry’s CEO, Godfrey Davis, also explained that wholesale in Asia is growing at more than 100% each year. Mulberry for Target, which debuted on Gilt Groupe in August, features bags in the $15 to $50 range.