UK luxury brand Mulberry posts 18% rise in first-half sales, shares gain

Mulberry Reports 18% Jump in First-Half Sales, Shares Climb on Positive Outlook

Mulberry's Strong First-Half Performance and Market Response

Oct 19 (Reuters) - British luxury handbag maker Mulberry reported an 18% jump in first-half sales on Monday, driven by resilient demand for its heritage bags and a higher share of full-price sales, sending its shares nearly 4% higher in early trading.

Sales Growth and Financial Highlights

• The company said trading was in line with the board's expectations
• Mulberry maintained its medium-term goals after sales for the 26 weeks ended September 26 rose 18.2% in constant currency

Strategic Initiatives and Brand Positioning

• CEO Andrea Baldo's "Back to the Mulberry Spirit" strategy has focused on the company's British heritage and craftsmanship and growing the brand with less discounting
• "The growth in full-price sales is particularly encouraging, demonstrating that our collections are resonating with customers across our key markets," Baldo said

Market Reaction and Regional Performance

• Shares of the company rose as much as 7.4% to 246 pence in early trade
• Sales growth was led by the US, where revenue rose 28%, while sales in Europe excluding the UK increased 23%
• UK sales were up 10%

Brand Visibility and Upcoming Results

• Mulberry's Christopher Kane London Fashion Week show boosted brand visibility, customer engagement and traffic across sales channels, the company said
• Final first-half results will be published on November 19

(Reporting by Anushka Chourasia in Bengaluru; Editing by Subhranshu Sahu)