Asian expansion deal in the bag for Mulberry
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Mulberry, the luxury brand, has agreed a new distribution agreement to sell its handbags and accessories in Japanese department stores.
The retailer has also extended a contract with the same partner to sell its products in South-east Asia for a further six years until 2021, including in the new countries of Australia and Vietnam.
However, shares in Mulberry fell by 95p, or nearly 7 per cent, to £13 yesterday, although they are still up by more than 44 per cent over the past year. Other luxury goods companies, such as Burberry, have seen their share prices hit in recently weeks over fears of slower spending among China's luxury consumers.
Mulberry said it had agreed "heads of terms" for a new distribution agreement for Japan via a joint venture vehicle owned by Club 21 and Mammina, a subsidiary of the department store group Isetan Mitsukoshi.
Under its contract extension with Club 21, the partner will open Mulberry flagship stores in Singapore, Hong Kong, Shanghai and Beijing.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments