Mulberry's fab Loopy Leopard bags
We are thrilled to announce the state of British retail is sure looking healthier in 2010 than it was last year. Yesterday Burberry reported ‘first-half revenues at Burberry Group plc rose 21.6 percent to £641 million', and that the success is 'due partly to growth in the company’s core categories of outerwear and large leather goods’. Translation - THOSE aviator jackets and fabulous bags are amazing and selling like hotcakes!
This report follows news that shoe chain and perennial Grazia fave, Kurt Geiger’s ‘turnover is up by 17% to £162m’ and that they happily boast that they sell 10 pairs of shoes every minute! (We are sure that the fact that a huge branch just opened up round the corner from Grazia's office is merely a coincidence. Ahem!)
Meanwhile, Mulberry, another British heritage label that's been brilliantly revived, is also reaping the rewards. The purveyors of luxe handbags and womenswear has announced a massive 80% sales rise.
Burberry's latest collection - S/S '11
Yikes! Although all three companies sell overseas; Kurt Geiger having just opened a shop in Dubai, and the two apparel brands having expanded into emerging markets such as China, the most recent figures show that sales in Britain and other European countries are way up and we're spending more on flash bags than last year.
And you'll be thrilled to hear we have plenty of phrases to sum up this turn of retail events. Rebecca Farrar Hockley, the buying and creative director of Kurt Geiger, described premium shoe retailers as the new "sweet shops" for women. "There is no doubt that statement shoes are the latest addiction." Aha, yup, we knew that already!
Stats fans may be interested to know that, according to Kurt Geiger, the average female has between 30 and 50 pairs of shoes and that shoppers in London spend on average £230 per pair of designer shoes and that each additional centimetre on the heel costs 20% more. Nice work, all you shoe-a-holic ladies out there!
- Naomi Attwood