Mulberry Group

What Mulberry Group does

Mulberry Group plc is a British luxury leather goods company founded in 1971 and headquartered in Chilcompton, Somerset, listed on the London Stock Exchange (LON:MUL). The company designs, manufactures, and sells premium leather handbags (iconic families include Bayswater, Amberley, Lily, Alexa, Roxanne, Pimlico, Lana), small leather goods, men's bags, travel accessories, sunglasses, and ready-to-wear through a mix of owned retail stores, the mulberry.com e-commerce platform, and wholesale distribution via department stores such as Selfridges, Harrods, and John Lewis. Revenue is generated primarily through full-price direct-to-consumer sales, with supplementary streams from wholesale, licensed eyewear (De Rigo Vision through 2031), and The Mulberry Exchange circular buy-back and pre-loved resale program. Approximately 50% of staple styles are produced in the UK at the Somerset facility, which also houses the Lifetime Service Centre providing repairs for products of any age.

The business serves affluent, brand-conscious consumers seeking durable, heritage-made luxury goods, alongside a Gen-Z and millennial cohort engaged through archival re-releases (Roxanne in September 2025 generated highest-ever social engagement) and limited-edition designer collaborations under the Mulberry Editions sub-brand. Customer acquisition is driven by cultural partnerships (V&A, Serpentine Galleries, Grayson Perry), celebrity campaigns (Tim Walker photography, Cynthia Erivo, Ella Emhoff), and London Fashion Week presence. The company achieved B Corp certification in 2024 and markets a 'Made to Last' sustainability proposition spanning UK manufacturing, circular resale, and lifetime repairs. Pricing is quote-based and not publicly disclosed; payment options include Klarna and Afterpay installment plans, with gift cards ranging from $50 to $2,500.

Mulberry is currently mid-turnaround under CEO Andrea Baldo. After FY2025 revenue fell 21% with a £23.7M underlying pretax loss, shareholders Challice and Frasers Group provided £20M of convertible debt in July 2025, and the company is executing a 'Back to the Mulberry Spirit' strategy emphasizing full-price selling, wholesale expansion (wholesale +36% in H1 FY2025-26), selective geographic growth (US +12.7%, Europe +14.9%, UK +3.5% in Q3 2026), and a return to ready-to-wear via Christopher Kane's creative directorship debuting at London Fashion Week September 2026.

Name

Mulberry Group

Legal name

Mulberry Group plc

Website

https://mulberry.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mulberry Group plc is a 1971-founded British luxury leather goods company (LSE: MUL) designing, manufacturing, and selling handbags, small leather goods, travel, and ready-to-wear through 50+ owned stores, e-commerce, and department store wholesale, serving affluent consumers seeking heritage craftsmanship and circular resale options.

Ownership category

akta.pro rank

Product category

Luxury Leather Goods

NAICS

Luggage and Leather Goods Retailers (458320), Apparel Accessories and Other Apparel Manufacturing (3159)

SIC

Leather & Leather Products (3100), Retail-Apparel & Accessory Stores (5600)

akta.pro primary industry

Luxury Leather Goods & Handbags (CRAKAFAB)

akta.pro secondary industries

Luxury Handbags & Leather Goods (CRAAAFAD), Luxury & Designer Leather Goods Manufacturing (IMAOAHAG), Leather Travel Goods & Luggage (CRAKAEAC), Luxury Accessories Retail (Leather Goods, Sunglasses, SLG) (CRAKAGAE)

Keywords

• Luxury leather goods
• Designer handbags
• British fashion brand
• Ready-to-wear apparel
• Circular fashion resale

Headquarters

HQ city

Chilcompton

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Retail Sales: Direct-to-consumer sales through owned retail stores and e-commerce platform mulberry.com. Core revenue stream with full-price sales emphasized in turnaround strategy.
2. Wholesale Revenue: Sales through department stores and authorized stockists including Selfridges, Harrods, and John Lewis. Grew 36% in first half fiscal 2025-26.
3. Eyewear Licensing (De Rigo Vision): Licensing agreement with De Rigo Vision for optical and sunglasses collections, renewed through 2031. Combines Mulberry British luxury aesthetic with De Rigo's eyewear expertise.
4. The Mulberry Exchange (Pre-Loved/Resale): Circular program trading pre-loved bags for store credit, then reselling authenticated and refurbished pieces. Revenue from both buy-back credits and subsequent resale of pre-loved items.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Mulberry designs, manufactures, and sells British luxury leather goods — primarily women's and men's handbags, small leather goods, travel bags, accessories, ready-to-wear apparel, and licensed eyewear — through owned retail stores, e-commerce, and department store wholesale. The company also operates a circular Mulberry Exchange programme for pre-loved bags and a Somerset-based Lifetime Service Centre for repairs, with 50% of staple styles produced in the UK.

Product overview

Mulberry Group is a Somerset-headquartered British luxury leather goods company offering a unified product portfolio centred on leather bags and accessories. The core offering consists of leather handbags across women's and men's categories, with iconic designs including the Bayswater, Amberley, Lily, Alexa, Roxanne, Pimlico, and Lana families, alongside small leather goods, wallets, travel bags, sunglasses, and recently revived ready-to-wear clothing. The brand operates a circular economy service layer through The Mulberry Exchange (pre-loved programme and Buy Back), Care & Repairs (Lifetime Service Centre), and Personalisation services. Mulberry also extends its brand through licensed eyewear (De Rigo Vision) and extensive designer collaborations (Christopher Kane, Rejina Pyo, Eleventy, Paul Smith, Priya Ahluwalia, Richard Malone, Nicholas Daley, Stefan Cooke, Alexa Chung, Mira Mikati, Axel Arigato, Miffy). The company achieved B Corp certification in 2024, positioning sustainability at the core of its brand identity.

Differentiator

Problem solved

Functional benefit

Brands

• Mulberry Editions: Limited-edition designer collaboration series featuring Priya Ahluwalia, Richard Malone, and Nicholas Daley for the brand's 50th anniversary
• Pre-Loved
• Made to Last

Products and services

• Bayswater Bag Iconic Mulberry handbag introduced in 2003, designed to showcase the brand's leather quality and artisanal craft. Targets the luxury fashion consumer seeking a timeless heritage piece.
• Amberley Bag

Quantifiable outcome

• B Corp Certification achieved in 2024, joining global community of purpose-driven businesses
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

17 partnerships are on record, tiered core, flagship and minor.

• Christopher KanecoreStrategic or Co-development Partner · 30 March 2026Scottish designer appointed Creative Director of women's ready-to-wear collection. Four-time British Fashion Award winner including Womenswear Designer of the Year. Returns to industry following closure of his eponymous label in 2023. Debut collection at London Fashion Week September 2026.
• De Rigo VisioncoreOEM/ Whitelabel/ Licensing Partner · 4 November 2025Eyewear licensing agreement renewed through 2031. De Rigo Vision produces optical and sunglasses collections translating Mulberry's British luxury aesthetic into eyewear. Both CEOs highlighted commitment to responsible design and meaningful international growth, combining craftsmanship with sustainable innovation.
• Tim WalkerflagshipStrategic or Co-development PartnerLong-time Mulberry collaborator and renowned photographer shooting major campaigns including 'Rooted In Craft' featuring Somerset artisans and Roxanne return campaign featuring Cynthia Erivo.
• Kate PhelanflagshipStrategic or Co-development PartnerLegendary stylist collaborating on Roxanne campaign with Tim Walker and Cynthia Erivo.
• Rejina PyominorStrategic or Co-development PartnerSouth Korean-born, London-based fashion designer collaboration creating exclusive capsule of bags, ready-to-wear, jewellery, and accessories.
• EleventyminorStrategic or Co-development PartnerMilanese brand collaboration combining British craft with Italian luxury in curated capsule of ready-to-wear, bags, accessories, and footwear.
• Paul SmithflagshipStrategic or Co-development PartnerCollaboration between two icons of British fashion years in the making, embodying craft expertise and quintessentially British wit and spirit.
• Nicholas DaleyminorStrategic or Co-development PartnerLondon-based menswear designer collaboration for Mulberry Editions 50th anniversary. Awarded 2025 Pratt Fashion Visionary Award. Collaborations include working with musicians Shabaka Hutchings and Lianne La Havas.
• Priya AhluwaliaminorStrategic or Co-development PartnerAward-winning creative director collaboration for Mulberry Editions 50th anniversary. Featured in Highsnobiety's Not In Paris exhibition with three short films.
• Richard MaloneminorStrategic or Co-development PartnerInnovative limited-edition Mulberry Editions 50th anniversary collaboration with designer discussing inspirations and intentions.
• Stefan CookeminorStrategic or Co-development PartnerBritish design duo reimagining pre-loved Mulberry pieces in exclusive collaboration as part of Mulberry Editions.
• Axel ArigatominorStrategic or Co-development PartnerSwedish lifestyle label collaboration creating exclusive capsule collection of bags, accessories, and ready-to-wear.
• Mira MikatiminorStrategic or Co-development PartnerJoyful capsule collection of bags, ready-to-wear, and accessories celebrating Chinese New Year and the Year of the Dragon.
• Serpentine GalleriesflagshipStrategic or Co-development PartnerHeadline sponsor of Grayson Perry: The Most Popular Art Exhibition Ever! Partnership celebrating British creativity, craft, and democratic approach to art and design culture.
• Victoria and Albert MuseumflagshipStrategic or Co-development PartnerLead sponsor of 'Bags: Inside Out' exhibition 2021-2022. Featured iconic Mulberry bags including Kate Moss's Bayswater and Alexa Chung's Alexa, plus behind-scenes Somerset factory film.
• Grayson PerryflagshipStrategic or Co-development PartnerTurner Prize-winning artist collaboration creating bespoke handbags as variations on iconic Amberley silhouette. Shared passion for British creativity, craft, and unconventional approach to tradition.
• The Mulberry Group (Hazel Melbourne)minorOthersNote: Different entity named 'The Mulberry Group' - unrelated to Mulberry luxury brand. Participating in Mastercard Inclusion Hub initiative with Hazel Melbourne venue.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Radley London: British affordable-luxury handbag and small leather goods brand with broad UK distribution and DTC e-commerce. Competes with Mulberry at the more accessible end of the British leather goods market with overlapping customer demographics.
• Aspinal of London: British heritage leather goods brand selling handbags, small leather goods, and accessories at accessible-luxury price points. Most direct peer to Mulberry in positioning, geography, product mix, and channel strategy (own retail + wholesale + online).
• Anya Hindmarch: British designer-led luxury handbag and leather accessories brand with strong London flagship presence and playful British design language. Highly comparable to Mulberry on heritage positioning, customer base, and category mix.
• Smythson of Bond Street: Iconic British luxury leather goods maison founded 1887, specializing in small leather goods, diaries, and travel accessories. Comparable to Mulberry on British heritage, craftsmanship-led positioning, and premium price architecture.
• Strathberry: Edinburgh-based contemporary luxury handbag brand with distinctive minimalist design language and strong DTC e-commerce presence. Comparable to Mulberry as a digitally native British handbag peer targeting similar luxury consumers.

Broad incumbents

• Coach (Tapestry): American accessible-luxury leather goods brand with global scale and strong DTC + wholesale mix. Comparable to Mulberry in handbag-led product portfolio and direct-to-consumer focus, but materially larger and positioned slightly below Mulberry's price ceiling.
• Burberry: Larger British luxury heritage maison with leather goods, RTW, and accessories. Competes with Mulberry across multiple categories but operates at materially larger scale and broader portfolio, serving as the aspirational peer in the British luxury landscape.
• Loewe: Spanish luxury leather goods maison owned by LVMH, widely regarded as a leader in artisanal leather handbags. Comparable to Mulberry in craftsmanship-led positioning and leather goods focus, but at a higher price tier and broader global scale.

Emerging players

• Globe-Trotter: British heritage luxury luggage and travel accessories maker with handmade credentials and premium positioning. Comparable to Mulberry on British heritage, craftsmanship, and travel/luggage category overlap, though at smaller scale.
• Tusting: Smaller British family-owned leather goods maker specializing in bags, briefcases, and travel goods with strong craftsmanship credentials. Comparable to Mulberry on British-made positioning and leather goods category but at lower brand scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MulberryEngland
• YouTubeyoutube.com/Mulberry
• Facebookfacebook.com/Mulberry
• Instagraminstagram.com/mulberry_editor
• Pinterestpinterest.com/mulberry
• LinkedInlinkedin.com/company/mulberryengland

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mulberry Group