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Tag: HANDBAGS

  • Mulberry Lifts Asia Pacific Like-for-Like Sales 24% as First-Half Demand Rises

    Mulberry Lifts Asia Pacific Like-for-Like Sales 24% as First-Half Demand Rises

    Mulberry lifted its Asia-Pacific like-for-like sales by 24 per cent in the 26 weeks ended September 26, 2026, as international demand pulled first-half group sales up 18 per cent.

    Total regional revenue in Asia Pacific grew 5 per cent over the period, pointing to a sharp divergence between existing store productivity and overall footprint changes across regional shopping malls.

    Group sales climbed 18.1 per cent at actual exchange rates and 18.2 per cent on a constant-currency basis. The United States led global gains with like-for-like sales up 34 per cent, followed by Asia Pacific at 24 per cent, continental Europe at 21 per cent, and the British domestic market at 9 per cent. Franchise and wholesale operations across all markets rose 52 per cent, lifting wholesale and third-party channels to 17 per cent of total group turnover compared with 16 per cent in the prior-year period.

    Margin Discipline and Full-Price Trading

    Mulberry protected profitability by curbing markdowns across international store networks. Outside of planned clearance events, promotional sales accounted for a share of revenue 300 basis points lower than a year earlier, lifting gross margin across direct-to-consumer operations.

    Stronger consumer uptake centred on seasonal releases such as Raffia and Crochet lines, alongside the Stevie range and Darley Camera Bag. Legacy leather goods retained traction, with core handbag lines Bayswater and Lily generating sustained volumes across Asian concession counters and standalone flagships. Footfall in key commercial centres also drew support from an international visibility push tied to the Mulberry by Christopher Kane collection presented at London Fashion Week.

    Wholesale distribution expanded through partner channels, including the launch of a digital storefront on Bloomingdale’s Marketplace in North America, complementing wholesale supply arrangements in regional department stores.

    Store Productivity Versus Network Expansion

    The gap between Mulberry’s 24 per cent like-for-like sales growth in Asia Pacific and its 5 per cent total regional revenue increase highlights an operational pivot. Rather than pouring capital into new floor space across prime Asian shopping streets, the British leather goods maker is squeezing higher sales densities out of its existing boutique network. Luxury department store landlords face brands that are increasingly unwilling to open marginal doors simply to buy market presence.

    For regional retail operators and franchise partners, the 52 per cent surge in wholesale and franchise turnover shows where commercial risks are shifting. Mulberry is leaning harder on local distribution partners to absorb inventory risk while keeping its direct store balance sheet light. That strategy insulates corporate cash flow against sudden luxury spending slowdowns in East Asia, but it places margin pressure directly on franchise operators who must shift stock at full price without heavy seasonal discounting.

    Turnaround Milestones

    The first-half performance builds on a modest recovery booked during the previous financial year. Mulberry posted annual group revenue of £125.5 million for FY2026, an increase of 4 per cent from £120.4 million recorded 12 months prior.

    Chief Executive Andrea Baldo has spent the past year restructuring operating overheads and scaling back markdown activity across physical and digital storefronts to reposition the label in the affordable luxury tier.

    “The strength of our performance reflects the work undertaken over the past year to refocus the Group around product, brand and customer, while maintaining a disciplined approach to trading and cost management.”

    Baldo stepped into the second half of the fiscal year by introducing Delilah, Oxblood, and Vintage Oak colour palettes across core leather accessories to sustain full-price momentum through the winter holiday shopping season.

    Medium-Term Financial Targets

    Management maintained its medium-term financial objective to surpass £200 million in annual group revenue, equivalent to roughly $266.7 million. The executive team is pairing that top-line target with a goal to reach an adjusted earnings before interest and taxes margin of 15 per cent.

    Mulberry will release its full first-half results on November 19, 2026.

  • Freitag Launches Premium Reference Handbag Line Across 30 Stores

    Freitag Launches Premium Reference Handbag Line Across 30 Stores

    Freitag launched a four-bag collection called Reference on Thursday. The line pushes its upcycled truck-tarp business into higher price tiers across 30 company stores and 200 retail partners worldwide.

    The Swiss brand sells its accessories primarily in European and Asian markets. In those regions, its store network also functions as a return, repair and resale ecosystem.

    Higher production costs and monochrome sourcing

    European manufacturing partners assemble each Reference handbag in small runs using single-color truck tarpaulins. The monochrome look departs from the company’s multi-colored aesthetic to target shoppers seeking minimalist design. Every bag includes a detachable repair kit made with matching tarpaulin, thread and lining to allow repairs decades later.

    Circular production economics remain tough. Markus Freitag co-founded the brand with his brother Daniel in 1993. He confirmed that preparing used tarps costs roughly three times more than purchasing new raw material. The company collects tarpaulins across Europe, inspects each piece, strips the material by hand and washes it before cutting begins.

    The retail calculation for Asian store networks

    For department store landlords and franchise partners across East Asia, the Reference line offers a way to lift average transaction values without increasing volume. Freitag has built concentrated followings in Tokyo, Seoul and Shanghai. The company avoids chasing unit growth, choosing instead to elevate product tiers and protect margins squeezed by labor and cleaning costs.

    Consumer willingness to pay luxury prices for industrial waste poses the primary commercial risk during a broader luxury slowdown. Freitag frames monochrome tarps as equal to traditional luxury leathers. Shoppers in key Asian retail hubs may scrutinize whether stripped-back upcycled items command premium price tags when competing against established designer leather goods.

    Two decades of architectural and circular retail

    The release coincides with the 20th anniversary of Freitag’s flagship store in Zurich, constructed in 2006 from 19 stacked freight containers. Swiss authorities made the temporary structure permanent in 2014. In 2025, the company added a dedicated Repair Kiosk to the site to handle product servicing.

    Chief executive Janine Weiz-Bühler said the business aims to broaden its demographic reach without abandoning its environmental mandate. “We prove that upcycling and elegance are not a contradiction,” Weiz-Bühler said. She noted that the company views the elevated collection as an expansion of its existing lineup rather than a structural rebrand.

    Road-testing circular tarpaulins and mono-materials

    Freitag is also running road tests on prototype circular tarpaulins developed with industrial partners. These materials are engineered to undergo mechanical or chemical recycling into fresh base materials once removed from commercial trucks.

    Management is monitoring customer adoption of its Mono backpack. Recyclers can shred the bag directly into nylon granules without disassembly because it is constructed entirely from a single polyamide grade.

  • Louis Vuitton to Launch 13-Design Keith Haring Capsule on Jan. 1

    Louis Vuitton to Launch 13-Design Keith Haring Capsule on Jan. 1

    Louis Vuitton will release a 13-design Keith Haring handbag collection worldwide on Jan. 1. The launch follows an exhibition preview at Art Basel Paris on Oct. 23.

    This Artycapucines capsule leads a wider commercial release. It spans ready-to-wear, leather goods and accessories across selected international boutiques.

    Developed with the Keith Haring Foundation, the line adapts the late American artist’s drawings into limited-edition versions of the Capucines bag. The pieces will appear at the brand’s Art Basel Paris booth alongside works from earlier artist partnerships. Then they head to retail counters.

    Art Basel Paris Preview and January Rollout

    Collectors get their first look at the 13 designs when the Paris exhibition opens Oct. 23. Commercial sales follow on Jan. 1. At that point, the house will distribute the bags to top-tier stores globally alongside an expanded Haring collection.

    Workshops used multiple craft techniques to translate Haring’s visual language onto hides. Artisans relied on leather marquetry, laser printing, embroidery and embossing. Select models also feature enameled charms on decorative chains.

    Individual models show contrasting materials and silhouettes. The Capucines BB Holiday features a drawing of dolphins swimming with humans in pink and blue tones, executed in calfskin inlaid with ostrich and karung leather. Another piece, an evening clutch with Haring’s 1984 “Running Heart” artwork, carries more than 12,000 crystals across its exterior.

    Runway Debut at the Frick Collection

    Behind the collaboration sits a physical piece of brand history. During the 1980s, Haring drew his “Radiant Baby” figure onto a battered Louis Vuitton suitcase. That act created an informal bridge between street culture and Parisian luggage craft.

    Nicolas Ghesquière, artistic director of womenswear, revived that trunk for his cruise 2027 show at the Frick Collection in New York City in May. A model carried the original piece to open the presentation. Haring motifs also ran across selected runway garments.

    Vuitton scanned the vintage suitcase to digitally print its aged surface onto two production bags: the Capucines MM Genesis and the Valisette Genesis, a mini attaché case fitted with a shoulder strap. The cruise show also debuted a minaudière shaped like a takeout noodle box, decorated with Haring’s “Statue of Liberty” and “Big Apple” graphics.

    Craft Techniques and Archive Motifs

    Luxury groups rely on limited artist runs to maintain exclusivity and test appetites for high-margin collector items. These editions serve as halo products. They draw foot traffic into flagships and command substantial price premiums over core leather lines.

    Across Tokyo, Seoul, Hong Kong and Singapore, securing allocations of Artycapucines bags is an essential tool for client engagement. Top VIP shoppers in Asia consistently buy short-run artist editions. That steady demand insulates luxury houses from softer traffic in entry-level accessories.

    Global Allocation and Luxury Demand

    Staging the initial reveal at Art Basel Paris links the brand’s commercial output directly to high-net-worth art collectors. The Artycapucines program serves as Vuitton’s primary bridge between art institutions and retail floors.

    Production capacity creates the main operational bottleneck, as multi-material inlays and crystal applications restrict manufacturing volumes. Retailers must allocate scarce stock across flagship stores. They will also manage client waitlists ahead of the broader ready-to-wear rollout.

    Presentations of the accompanying ready-to-wear garments and accessory lines will take place later this year before the full Keith Haring collection arrives in stores on Jan. 1.

  • Furla Opens 75Sqm Boutique at the Venetian Macao

    Furla Opens 75Sqm Boutique at the Venetian Macao

    Italian accessories brand Furla has opened a boutique at Shoppes at The Venetian Macao in September 2026, adding more than 75 square metres of retail space to its Asia-Pacific network.

    It carries the brand’s full range of handbags, small leather goods, eyewear, textiles and charms under an updated store format.

    Modular Layout and Interior Fit-Out

    Inside, the boutique features dedicated product zones and a magnetic display wall for seasonal arrivals. The setup lets staff reconfigure floor layouts without structural work.

    Italian materials anchor the interior, mixing natural oak and painted metal with lacquered surfaces, tiles and light gold accents. A palette of ivory, latte, white, grey, burgundy and aqua green runs across the display fixtures and perimeter shelving.

    Casino Footfall and Regional Push

    Casino mall retail relies heavily on mainland tourist traffic. Leases demand steady transaction velocity from transient shoppers rather than local repeat footfall. In this corridor, premium leather goods makers face direct competition from heritage luxury houses upstairs and accessible fashion labels fighting for discretionary travel spend.

    A compact 75-square-metre footprint keeps operating costs down while the brand tests product turnover along high-density casino walkways. Success at The Venetian will depend on converting foot traffic during peak holiday windows when mainland visitor volumes surge.

    Greater Bay Footprint

    Founded in Bologna in 1927, the company expanded its retail presence earlier in the year with a refreshed store format in Hong Kong. That rollout introduced lighter fixtures and revised zoning across urban locations.

    The Macao opening extends that format across the Pearl River Delta, where retail performance tracks incoming visitor arrivals alongside cross-border ferry and bridge volume.

  • Coach Targets 10 Billion Dollars in Sales by 2028

    Coach Targets 10 Billion Dollars in Sales by 2028

    Coach plans to reach 10 billion dollars in annual sales by 2028, up from its current 7 billion dollar revenue base. The expansion relies on growing international store networks, pushing deeper into ready-to-wear and footwear, and recruiting younger shoppers.

    The brand generates the vast majority of revenue for parent company Tapestry Inc., which recently reported 8 billion dollars in annual sales. Chief executive officer and brand president Todd Kahn, who took the helm in 2020 after joining as general counsel in 2008, is steering the push as the label marks 85 years since its founding in 1941.

    Expanding Global Footprint and Gen Z Reach

    Attracting Gen Z buyers sits at the center of the sales roadmap. Coach has broadened its assortment beyond signature leather handbags into ready-to-wear lines, footwear collections, dedicated brand cafes, and circular fashion initiatives like Coachtopia.

    Creative director Stuart Vevers continues to lead product design, balancing heritage leather craftsmanship with youth-focused styling. Kahn noted that while the company started as a small workshop run by immigrant artisans on 34th Street in Manhattan, preserving core leather craft remains essential to its identity as an accessible luxury house.

    From Leather Workshop to Tapestry Growth Engine

    Department store distribution once dominated accessible luxury, but direct retail networks and localized experiential spaces across Asia, Europe, and North America now anchor the brand’s margins. Rivals in the premium leather goods category face tighter consumer spending, yet Coach has maintained price discipline and direct-to-consumer momentum across international markets.

    Tapestry will measure progress against the 10 billion dollar milestone across its quarterly filings leading up to the fiscal 2028 deadline.

  • Kering invests in resale platform Vestiaire Collective

    Kering invests in resale platform Vestiaire Collective

    French luxury group Kering has taken a 5 percent stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younger and more environmentally conscious shoppers.

    The purchase is part of a 178 million euro (US$215 million) financing round announced on Monday which valued Vestiaire Collective at more than US$1 billion, the companies said.

    U.S. investment firm Tiger Global Management also invested in the platform, while existing shareholders including Vogue publisher Conde Nast and French private equity firm Eurazeo put more money in.

    The pre-owned fashion market has enjoyed rapid growth over the last three years, with a further acceleration during the coronavirus pandemic, thanks to younger shoppers’ heightened focus on sustainability and also homebound consumers looking for good deals on second-hand clothes.

    “There is a real shift happening that is going to shape the future of the fashion industry, and as a leader, in the sector, we want to shape that trend,” Kering’s digital chief Gregory Boutte told reporters.

    The proportion of secondhand pieces in closets is predicted to grow from 21% in 2021 to 27% in 2023, with the value of the sector estimated to be worth over $60 billion by 2025, the companies said in a statement. Paris-based Vestiaire Collective said its transaction volume doubled in 2020.

    Luxury groups have traditionally been wary of secondhand sellers, which weaken their control over the distribution and pricing of their brands and, according to critics, can help spread counterfeit goods. But that is changing, and Kering’s star brand Gucci last year announced a partnership with U.S.-based resale platform The RealReal.

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  • Milan Station losses halve after store closures

    Milan Station losses halve after store closures

    Hong Kong handbag retailer Milan Station losses halved last year, despite a 17 per cent fall in sales to HK$264.3 million.

    The company reported a net loss for the year of $40 million, compared to $80.8 million the prior year, mainly due to decreased rental expenses due to the closure of unprofitable stores, and the absence of an impairment loss the prior year.

    Milan Station derived 95 per cent of its sales from Hong Kong and the balance from Macau after earlier closing its stores in Mainland China.

    Hong Kong sales decreased 18.7 per cent to $250.2 million, revenue coming from its seven Milan Station stores and six Thann stores, and its online platform. Sales in Macau rose by 36.9 per cent to $14.1 million as the territory’s gambling and tourism industries recovered.

    The company’s inventory turnover improved from 79 days in 2017 to 75 days last year.

  • Luxury French brand Faure Le Page heading to Singapore

    Luxury French brand Faure Le Page heading to Singapore

    Luxury French brand Faure Le Page will open its first Singapore flagship store this June, at Takashimaya. The store will be the fashion brand’s first in Southeast Asia and its ninth worldwide.

    Designed to resemble a garden, the boutique will pre-launch a collection of bags and accessories, specially designed for the local market.

    Known for its handbags and accessories, the brand will be distributed exclusively under a franchise agreement with FJ Benjamin Holdings.

    “Fauré Le Page is a prestigious brand in France with more than 300 years of history and a grand tradition of craftsmanship,” said Nash Benjamin, FJ Benjamin CEO. “Although its gunsmith origin is legendary in France, in recent years, it has developed a cult following for its handbags, small leather goods and accessories.

    “We are confident that our discerning customers in Singapore and the rest of the region will fall in love with the brand’s exquisite design and superior quality,” he added.

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  • Da Milano aims for 100 stores by year end

    Da Milano aims for 100 stores by year end

    Indian-Italian handbag and accessories retailer Da Milano is aiming to be operating 100 stores by the end of this financial year, including in Singapore. The company offers “affordable luxury” items and is likely to open further locations in airports and Tier II and III cities across India. It currently runs 80 stores across the country, as well as three in Dubai and one in Nepal.

    Stores are scheduled for launch in London, Singapore and more in Dubai. Its distribution network currently covers eight countries, retailing the brand’s more than 300 products per season. Designs are produced in collaboration between Italian and Indian teams.

    Da Milano sales grew 25 per cent over the last financial year, with expansion expected to continue through 2019. Efforts to promote the brand online are at the forefront as the brand approaches its 30th anniversary.

  • Welden handbags flies high in China

    Welden handbags flies high in China

    Sandy Friesen’s small and young handmade handbag company Welden generated nearly US$300,000 in gross merchandise volume during a two-day live-streaming event in China.

    On Alibaba’s C2C marketplace Taobao, the campaign was the New York brand’s first foray into China. It became an instant hit, attracting 808,000 views and 4.06 million likes on the first day.

    By the end of the two days, Welden had sold nearly 1000 bags priced from $195 to $595, with a combined 1.7 million livestream views.

    Friesen says the success of Welden’s China debut far surpassed her expectations. The Welden co-founder says China had not been on her company’s radar until only few months before the campaign.

    “We were a US brand that had been trying to expand to Canada. We’ve been really just going with what we know. It’s truly amazing this has happened so quickly.”

    Friesen started Welden in 2015, its designs being easily recognisable by their signature hexagon weave.

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  • MCM stores become art hubs

    MCM stores become art hubs

    MCM offers a harmony of art and fashion, introducing works of art and artists.

    MCM starts art activities in ‘MCM House’ store, Hongdae ‘MCM Popup’ store located in Hongdae youth street in Mapo-gu, and other flagship stores in Seoul.

    All activities take inspiration from the brand’s identity, and the 70s, years in which the brand was established  in Munich, Germany.

    Germany in the 1970s, when art culture flourished, and at the same time, combined with modern cutting-edge materials and design are att he core of the brand. Music, art, travel, and technology are the four priorities, giving Millennials a lifestyle experience that goes beyond fashion.

    The ‘MCM House’ in Cheongdam-dong allows customer to meet art by decorating the 5th floor and the 1st basement floor as a sole art space. The MCM Culture Program, which was launched in July 2017, is a representative example.

    This program is a lecture program of first-generation interior designers and representative photographers in Korea. It is a place where content creators can communicate with the public and meet with their audience.

    As the ‘MCM House’ is being used as a cultural space, the simple structure in which visitors experience the exhibition is transformed into a virtuous cycle structure in which visitors who visit the store look at the products as they were artworks.

    The ‘Kunst Project’, which is currently holding a photo exhibition at Hongdae’s MCM pop-up store, is a representative cultural and artistic campaign for MCM. Kunst means art and has been steadily opening 3-4 projects a year since 2014.

    In the meantime, it collaborated with artists from various art fields such as tattoo, toy art, molding art, sculpture, photography, installation art, graffiti, digital neon art and pop art.

    MCM will continue to carry out arts and cultural activities in the future.

    The ‘MCM Culture Program’ will host the remaining 5 lectures in the MCM House in the first half of 2018. The Kunst Project is also expected to continue throughout the year and is looking for the 12th collaborative artist.

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