British luxury handbag maker Mulberry reports higher annual revenue with simplified business strategy

British luxury handbag maker Mulberry MUL.L reported a 5.7% jump in annual revenue on a constant-currency basis on Monday, supported by robust second-half performances as its focus on full-price sales drove improved gross margins for fiscal 2026.

Mulberry said its second-half sales surged 13.6% on a constant-currency basis, a sharp reversal from a 3.2% first-half decline, as its 'Back to the Mulberry Spirit' strategy to refocus on its domestic customers across retail and digital channels bore fruit.

"We are simplifying the business, restoring full price discipline, strengthening our connection with customers, and reasserting Mulberry's position as a distinctive British lifestyle brand," Chief Executive Officer Andrea Baldo said in a statement.

The Chilcompton‑headquartered company said the targeted investments and strategy helped its Bayswater Limited Edition sell out within minutes of its February launch.

-Reporting by Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips/Reuters