Mulberry thinks big in South Korea with Seoul show
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Mulberry has set its sights firmly on Seoul and South Korea. After Tommy Hilfiger’s show in Shanghai, it is now the turn of the British luxury leather goods label to tread the catwalks in Asia.
For four days, Mulberry will be staging a series of events in the South Korean capital, for its ‘Mulberry x Seoul’ operation. Top of the bill is a show scheduled on September 6 at 8 p.m. at the K Museum of Contemporary Art, which is broadcast live on Mulberry’s website and social media accounts.
The show introduced the label’s ‘Eccentric Sensibility’ Autumn/Winter 2018-19 collection, with which creative director Johnny Coca seeks to explore “the mischievous, eccentric facet of British style.”
Mulberry is keen for Koreans to discover its own brand of British eccentricity, “the by-product of a juxtaposition of historical and visual references.” The show will be followed by a gala evening organised by artist collective Studio Concrete and by renowned Seoul club Trunk, notably featuring star Korean DJ Peggy Gou.
The public also enjoyed a comprehensive Mulberry experience, with events including British-themed cocktail parties, a selfie studio and films. For the occasion, the Museum of Contemporary Art will host a Mulberry pop-up store, with the chance to win gifts and, above all, one of the exclusive Small Harlow handbags from the latest collection – a limited edition of the model will be available in Korea for two weeks. In parallel, and until September 21, Seoul’s two 10 Corso Como concept stores will showcase a selection of Mulberry items from the new collection.
“In parallel, and until September 21, Seoul’s two 10 Corso Como concept stores will showcase a selection of Mulberry items from the new collection.”
“At a time when we are focusing on international expansion, this event will boost our distribution network in South Korea, which is already robust. We want to realise the brand’s potential in this crucial market, and to address more directly a generation that is young, curious and keen on digital tools,” said the CEO of Mulberry, Thierry Andretta, in a press release.
Mulberry recently set up the Mulberry Korea joint-venture company with its long-standing South Korean partner SHK Holdings. The British label has a 60% stake in the company, which will manage its business in the country.
The two partners are planning investments worth €5.22 million. Mulberry currently operates 18 retail outlets in South Korea, including concessions, outlet and duty-free stores and an e-tail site.
In recent years, the luxury leather goods brand strengthened its presence in Asia by creating other joint-venture companies, in China, Hong Kong, Taiwan and Japan. In the 2017-18 financial year, which closed on March 31, Mulberry generated a revenue of €192.61 million, up 1 percent, while its retail sales rose 3 percent, reaching €150 million.
Questions & Answers
Q.What is the primary purpose of Mulberry's multi-day event in Seoul?
What is the primary purpose of Mulberry's multi-day event in Seoul?
Mulberry aims to boost its distribution network in South Korea and connect more directly with a young, curious, and digitally-savvy generation. The event seeks to realise the brand's potential in this crucial market through various activities and a fashion show.
Q.How is Mulberry managing its operations in South Korea following this event?
How is Mulberry managing its operations in South Korea following this event?
Mulberry recently established a joint-venture company, Mulberry Korea, with its long-standing partner SHK Holdings. Mulberry holds a 60% stake in this company, which will manage its business in the country and oversee planned investments.
Q.Which specific product from the new collection will be exclusively available in Korea for a limited time?
Which specific product from the new collection will be exclusively available in Korea for a limited time?
A limited edition of the Small Harlow handbag from the new Autumn/Winter 2018-19 collection will be available exclusively in Korea for two weeks. There is also a chance to win one of these handbags at the pop-up store.
Q.What were Mulberry's financial results for the most recent fiscal year mentioned?
What were Mulberry's financial results for the most recent fiscal year mentioned?
In the 2017-18 financial year, which ended on March 31, Mulberry reported a revenue of €192.61 million, an increase of 1 percent. Its retail sales specifically rose by 3 percent, reaching €150 million.
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