Mulberry becomes a billion pound company thanks to the Alexa

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Who would’ve thought that a small fashion brand started in Somerset in 1971 would be named as the world’s best performing fashion brand in 2011? Mulberry have managed to pull off that label, having been valued at £1.03 billion, compared with £166 million a year ago. The success is said to be thanks to cult bag the ‘Alexa’ named after uber-cool British TV presenter Alexa Chung.

The Alexa bag, which comes in four different styles, currently accounts for 30 percent of Mulberry’s sales. Prices for one of the coveted handbags start at £525 for a Mini Alexa, rising to £3,750 for a large ostrich leather version. Not only is Alexa a fan of her self-titled arm candy, but fellow high-profile fashionistas Claudia Schiffer, Fearne Cotton and Daisy Lowe have also been spotted carrying theirs.

We’re kicking ourselves that we didn’t buy some shares a Mulberry a year ago!