Mulberry's 'Back to Mulberry Spirit' strategy boosts global sales performance

British lifestyle brand Mulberry has delivered a strong sales performance for the second half of the 2026 financial year, supported by a turnaround strategy focused on brand reignition and full price discipline.

The group reported constant currency sales growth of 13.6 percent during the second half (H2) of the 52 weeks ended March 28, 2026. This momentum resulted in total revenue growth for the full year (FY26) of 5.7 percent on a constant currency basis. The performance indicates that the ‘Back to Mulberry Spirit’ strategy is gaining traction across all global regions. Every end market reported positive like-for-like (LFL) sales growth in H2, with the EU (excluding the UK) leading the expansion at 37.8 percent.

Strategic shift drives regional growth

The group’s retail and digital channels saw widespread recovery following a more difficult first half (H1) of the year. In the UK, retail and digital sales rose 13.7 percent in H2, while the US and Asia Pacific regions grew by 20.1 percent and 20.8 percent respectively.

Mulberry chief executive officer, Andrea Baldo, noted that the results demonstrate the turnaround is firmly underway despite a challenging economic and geopolitical environment. The group has remained focused on re-engaging its existing customer base while attracting new shoppers through a more focused product offer and improved availability. This growth was achieved alongside a disciplined focus on full price sales and a reduction in discounting.

These measures supported an improved gross margin for the 2026 financial year, continuing the progress seen in the H1 report where gross margin reached 69 percent.

Creative leadership and ready-to-wear relaunch

A significant pillar of the brand refresh is the appointment of British designer Christopher Kane as ready-to-wear (RTW) creative director. Kane, who previously closed his eponymous brand in 2023, will lead the return to a category Mulberry has not occupied since ending its licensing agreement with Onward Luxury Group in 2020.

The first collection under Kane’s direction is set to be unveiled in September 2026, with items becoming available in stores and online from January 2027. Baldo stated that Kane’s arrival marks an important step in re-establishing creative leadership as the brand evolves its creative language beyond accessories. Industry engagement regarding the relaunch has been high, with partners ranging from Selfridges in the UK to The Webster in the US.

Recent product initiatives, such as the ‘Rooted in Craft’ campaign and the limited edition Bayswater launch, which sold out in minutes, have already begun to elevate brand awareness. While the group remains focused on the work ahead, Baldo expressed confidence in the ability to build a sustainable, profitable business for the long term.