Mulberry Will Focus On Developing The Chinese Market In The Future.

According to the world clothing shoes and hats net, due to the reduction strategy and key development

Products are effective, and Mulberry's performance is improving gradually.

According to the preview report of the 2017 fiscal year ending in March 31st issued by Mulberry in June 14th, the total revenue of the group rose by 8% to 168 million pounds. In 2016 2016, the figure was 160 million pounds; the pre tax profit rose 21% to 7 million 500 thousand pounds; in 2016 fiscal year, the figure was 6 million 200 thousand pounds.

(it may be to show business improvement). After finishing the two indexes of "income" and "pre tax profit", the next index mentioned in the earnings report is "inventory".

In the fiscal year of 2017, Mulberry stock dropped to 42 million 800 thousand, and the figure was 44 million 400 thousand in the fiscal year of 2016.

Mulberry has been praised as Britain's most powerful voice after Burberry.

The Bayswater Tote package is hot because of Kate Moss, while Alexa Satchel is also the most popular It bag.

But since Bruno Guillon became chief executive in 2013, Mulberry has begun to take the lead in the high-end line. In addition to reducing wholesalers and decorating the flagship store very luxurious, some of the production lines that have moved to China and Turkey have been moved back to the adjustment of operations in Britain and so on. Mulberry has also raised the pricing.

After the price adjustment, most of the Mulberry handbags are priced at 700 to 800 pounds, 17% of the single products exceed 1000 pounds, and the highest price of the product is 5500 pounds.

But the result is unsatisfactory. The original customers could not afford higher prices, while the high-end market customers could not agree with the brand value after its price increase.

Mulberry has made a decision to reduce the price of the handbag products and retrieve the core users of the UK.

In 2015, it found itself a new CEO, Thierry Audretta and new creative director Johnny Coca.

In the financial year, Johnny Coca, who designed the "smiley face pack" for Celine before, also made a burst package for Mulberry, Zipped Bayswater (the improvement made on the explosive bag Bayswater in 2003).

"After Johnny Coca came, a series of new products were released.

Since its launch in October 2016, Zipped Bayswater bag has immediately become a bestseller.

This product will continue to develop. "

The financial report has evaluated this group's best performing product in the financial year.

In addition, the earnings report also mentioned several other good news of Mulberry.

Sales of Mulberry retail channels (including e-commerce) increased by 8% to 128 million pounds, and the figure for 2016 fiscal year was 118 million pounds.

The better results are

Revenue from the channel rose by 19%, which now accounts for 15% of Mulberry's total revenue, reaching 25 million 500 thousand pounds, part of the reason is that Mulberry.com is starting to operate in the Chinese and Korean markets.

"We have made many progress in the past year.

Our sales and profits are rising and cash flow is also good (no debt, cash flow of 21 million 100 thousand pounds).

Thierry Andretta wrote in its earnings report that "next year, Mulberry will continue to expand its international market."

In fact, the biggest market for Mulberry is still its local market, that is, the British market.

According to the data from the group's direct store, another part of sales came from wholesale channels, sales in the UK account for about 83% of its total sales, and the international market share is not very large.

"In the UK, despite the sluggish domestic demand, year-on-year sales increased by 2%, mainly due to the consumption of tourists in London."

Earnings report wrote.

Mulberry has decided to continue to increase its input in the international market.

In order to promote the brand in mainland China, Taiwan region and Hongkong region (financial report "North Asia" market), at the end of 2016, Mulberry held 60% and set up a joint venture company Mulberry (Asia) Limited in Asia.

Mulberry plans to invest 3 million pounds in the next two years to increase brand recognition in the North Asian market and attract consumers to travel in the UK, Europe and North America.

"Mulberry Asia can enable us to increase the international share in the key market of luxury goods, and develop the retail and full channel business models of the brand.

We have seen significant growth opportunities in the region and look forward to mining the global potential of Mulberry. "

In March 28th, Mulberry wrote in a notice issued.

Initially, the joint venture Mulberry Asia was only used to manage two shops in mainland China, a Hongkong store, a Taiwan store, and some wholesale businesses responsible for the Chinese market.

Since April 3rd, Mulberry Asia is already operating in Hongkong, and then the branch will begin to control the mainland and Taiwan markets.

By the end of 3, the shops in Hongkong had been relocated, and they had also made flash shops. Shanghai also opened new shops.

Mulberry Asia is planning to reset the address of the Beijing store.

In April 2017, new shops were opened in Shanghai.

New stores will open in Hongkong in May.

Another detail that Mulberry attaches importance to the Chinese market is: in the fiscal year of 2018, the 4 Chinese market shops managed by Mulberry Asia were included in the income range of the direct store.

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