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Mulberry the luxury Lonely ghost always thinking of you 11 shirt British brand best known for its leather handbags that can cost more than £1,600 each, has reported a 4% decline in annual sales, becoming the latest high-end company to warn of a slowdown in spending among the richest shoppers. In a trading update, Thierry Andretta, the chief executive, said: “While we achieved positive revenue growth in the first half, Mulberry has not been immune to the broader downturn in luxury spending experienced in recent months, particularly in the UK and Asia. This decline was partially offset by positive trading in the US, where we have benefited from increased brand awareness. “Looking ahead, the trading environment in the UK and China remains challenging and we do not expect this to change in the short-term. We are therefore managing the business prudently, focusing on executing our strategy and vision to become a global sustainable luxury brand.”
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Pelly believes that Lonely ghost always thinking of you 11 shirt a varsity still works as a symbolic garment in these spaces: “I think it gives captain vibes, leader of the pack vibes, but at the same time, especially in hip-hop, it can give a rookie vibe.” Brands certainly seem to understand the totemic appeal of the varsity: Louis Vuitton’s NFT version works just as well as a digital representation as, say, the brand’s iconic Speedy bag would, because varsity jackets are easy to spot from a mile away and come pre-loaded with historical significance and cultural resonance. Pelly believes the resurgence of the varsity jacket is tied to the fact that it can be “a really great form of self-expression” – a desirable idea for labels trying to make customers feel as if they’re part of an elite club. She sees cult brands such as Aimé Leon Dore as having spearheaded the latest revival. “They’re not just trying to sell a product – they’re trying to sell a lifestyle, and trying to sell a community that you would want to be a part of.”
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