Mulberry issue profit warning - Telegraph Economic slowdown is Asia means full year profits at the British luxury brand are expected to be "below market expectations." Mulberry, the fashionable British luxury accessory brand, has warned on profits, blaming a drop in wholesale revenue in part due to an economic slowdown in Asia. Wholesale shipments were down four per cent to £30m compared to the same period last year, the company said in a trading update. "Primarily due to lower wholesale revenue, Mulberry now expects Group revenue growth for the year to 31 March 2013 to be below market expectations," Mulberry said. Shares in the luxury goods company dropped as much as 24 per cent in early trading. Total revenue rose six per cent to £76.5m in the six months to September 30. Retail revenue rose 13 per cent to £46.5m and was up seven per cent on a like-for-like basis. UK retail sales were increase 10 per cent with UK full price sales performing in line with our expectations. International retail sales, which are a small part of the business, rose 41 per cent but were below expectations.