Mulberry shrugs off retail gloom to ride the luxury boom : Mulberry, the British
luxury handbag and fashion group, became the latest upmarket retailer to report
a strong Christmas helped by demand from tourists and Asia. Shares in the retailer
rose as much as 5pc on Friday after the brand said that sales over the six weeks
to January 15 rose by 66pc and it raised its profits forecast for a second time
in six weeks. Mulberry’s strong performance is in marked contrast with most
high street fashion retailers, who in general had a difficult Christmas trading
period due to the snow and consumers’ concerns about the economy. However
luxury brands across the world have bounced back strongly for its worst spending
slump in decades, driven by surging demand in Asia with cash-rich Chinese shoppers
leading the way.
