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Mulberry Group expands store network in Asia

U.K.-based luxury apparel retailer Mulberry Group plc has focused on relocating and expanding stores in Hong Kong, China and Japan in the fiscal first half, the company said Dec. 6 as it reported results for the six months ended Sept. 30.

In Hong Kong, Mulberry relocated its store in Harbour City to an undisclosed location and opened a pop-up store in the International Finance Centre.

In China, the company opened a new store at Shanghai Plaza 66 and said its Beijing China World outlet will be relocated in early 2018. Mulberry added that it is waiting to complete its purchase of three stores in the country by the end of the fiscal year.

In July, the company formed a joint venture with Japan's Onward Global Fashion Co. Ltd., a subsidiary of Japanese apparel group Onward Holdings Co. Ltd., to form Mulberry Japan Co. Ltd. The deal has since resulted in the transfer of one store to Mulberry Japan and the opening of four stores in Tokyo Ginza, Kyoto, Nagoya and Osaka.

Meanwhile, Mulberry Asia completed its acquisition of one store in Taiwan in October.

Mulberry Group's first-half revenue was £74.6 million, slightly higher than last year's £74.5 million, while unaudited adjusted diluted EPS remained at 0.6 penny.