British luxury fashion house Mulberry has signalled a robust recovery, reporting a significant boost in sales over the crucial Christmas trading period as its strategic overhaul begins to bear fruit.
Festive Figures Show Strong Growth
The Somerset-based group announced that global retail and digital like-for-like sales increased by 11% for the 13 weeks to 27 December. This performance was credited to the ongoing execution of its new strategy designed to reinvigorate the brand. The most impressive growth was seen in Europe, excluding the UK, where like-for-like sales soared by 27.2%. In its home UK market, sales still grew by a solid 6.5%.
Investors reacted positively to the news, with shares in the company surging as much as 10% in morning trading on Wednesday 14 January 2026, before settling around 5% higher.
The Turnaround Strategy in Action
This festive success follows a difficult period for the handbag maker. The company launched a major turnaround in late 2024 after reporting a 21% slump in revenue for that year. The restructuring involved cutting approximately 85 jobs, equating to a quarter of its workforce. To fund its transformation, Mulberry raised £20 million in June 2025.
Chief Executive Andrea Baldo stated, “While there remains plenty more to be done, it is encouraging to see the early signs of our Back to the Mulberry Spirit strategy delivering.” The strategy has included a refocus on the UK market and consumer, as well as high-profile campaigns like the relaunch of its Roxanne bag collection with Wicked star Cynthia Erivo.
Outperforming a Challenging Market
Mulberry's growth is particularly notable against a tough backdrop for UK retailers. Data from the British Retail Consortium and KPMG showed total retail sales growth slowed to just 1.2% year-on-year in December, well below the 3.2% seen a year earlier. The fashion sector has lagged behind food sales, with retailers grappling with fragile consumer confidence.
Despite this, Mulberry delivered standout performance in its full-price retail sales, which jumped 19% on a like-for-like basis. The company also revealed in November that it had more than halved its losses. Looking ahead, Mr Baldo said the brand enters 2026 with “good momentum” and remains laser-focused on building a sustainable, profitable business for the long term.
