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Mulberry bags itself a pretty good year

By Margaret Canning

Published 08/10/2010

A little further up the retail food chain than M&S, and shares in luxury fashion firm Mulberry are brightening after it said full-year sales would be better than expected.

Magazines are forever foretelling the death of the 'it-bag' but Mulberry bags, known for their discreet tree logo, always remain in favour with the fairer sex.

The company said sales for the last 10 weeks were up 57% in its UK shops, with more products being sold at full price.

But there was a note of caution, as Mulberry warned that second-half results would depend on a good Christmas trade - while the effects of January's VAT price increase to 20% were also dreaded.

But for the time being, the lure of its range - particularly the popular Alexa bag - named after T4 presenter Alexa Cheung - proves pretty hard to resist.

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