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AIM-listed fashion accessories firm Mulberry (LON:MUL) has seen its share price drop by 4.20% to 268.25p (as of 10:30 GMT) after its loss for the half year ended 28th September due to tough UK market conditions. International sales rose by 12% driven by East Asian markets, but UK sales fell by 4%.
CEO Thierry Andretta commented: “We have made further progress with our strategy through continued investment in a direct to customer, International, Digital and omni-channel model.
We are seeing the benefit of recent initiatives in Asia which remains a significant growth opportunity. This will support our ambition for international to become a greater proportion of group revenue.
As part of our approach to sustainability, we are progressing the use of recycled materials and sourcing 65% of our leathers from environmentally certified tanneries while maintaining an accessible luxury price positioning.
Looking forward, we will continue to build Mulberry as a global luxury brand with a strong focus on sustainability and innovative product, appealing to both our existing customers and new audiences“.