Luxury fashion brand Mulberry, which numbers the likes of Kate Moss and Cheryl Cole among its fans, has reported a 358% jump in pre-tax profit to £23.3m.
The label, best known for its handbags, including a line named after model and TV presenter Alexa Chung, increased its like-for-like sales by 43% in the year to the end of March.
Its total retail sales were worth £73.5m.
Mulberry ‘s chairman, Godfrey Davis, said the company had delivered a “step change in profitability”.
“Strong demand has continued in all markets has continued into the new financial year and the outlook for the Mulberry brand is positive.”
Its share price has risen by more than 500% in the last year.
Online sales at the company grew by 64% in the last year, and now account for 8% of Mulberry’s sales.
The company said sales at its New York and Paris stores grew by 122% and 151% respectively.
It has doubled the production of women’s handbags as a result of the rapid increase in demand and is expanding capacity at its Somerset factory by 30%, creating some 50 new manufacturing jobs.
Despite its record profits, Mulberry has remained cautious about future sales while it continues to expand its international operations.
The figures for the current financial year, to June 4, show like-for-like sales were up 42% on the same period last year.
Established in 1971, Mulberry has 86 stores worldwide, including 44 in the UK.
In addition to Chung, Moss and Cole, the brand has a number of high-profile followers, including Kate Bosworth and Gemma Arterton.