British luxury brand Mulberry have declared that their profits look set to surpass previous projections.
Mulberry are of course most well known for their luxury handbags, but Chief executive Godfrey Davis reckons the brand has struck a good compromise between luxury and affordability. He told the Financial times “I think we have a balance of design, quality and price that’s hitting the spot. We’re aiming to offer a luxury product with all the characteristics of other luxury brands … but our prices, though not inexpensive, are relatively affordable.”
Previous forecasts for profits at Mulberry had been in the region of £4.5 million but it now looks like the luxury brand will make nearer £6 million.
Analysts are saying that British based luxury brand Mulberry has most definitely benefited from this year’s surge in foreign shoppers coming to the UK to take advantage of a weak pound.
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