Mulberry designs and sells handbags, including the Bayswater and the Alexa, along with other accessories and womenswear. The company is based in Somerset.
What you get
Shareholders get 20% off full-price items at participating Mulberry stores.
What it takes
You need at least 500 shares.
You can apply as soon as you hold the shares.
Before buyingA perk is a minor benefit of owning a share, not a reason to buy one. Share prices fall as well as rise, and dealing costs, spreads and tax can exceed a perk’s value. Read about the risks.
Holding through a broker
Shares held in your own name or through a nominee qualify.
SIPP holdings: Ineligible.
Mulberry does not say whether ISA holdings qualify.
Choose a broker to see its guidance. The company’s eligibility rules still apply.
Hargreaves Lansdown Documented route
Message HL to request the card. HL excludes SIPP holdings. HL labels its directory April 2025. Check current issuer terms; this route has not been tested.
Broker source , checked
interactive investor Documented route
ii requests the card from Mulberry, which sends it to you. ii labels this entry January 2024. Check current issuer terms; this route has not been tested.
Broker source , checked
Other conditions
- Excluded accounts
- Other personal pensions
- Limit
- £5,000 per year on product purchases after discount
How to claim
In store, show your current discount email and ID in the same name. Only the named shareholder can use the discount.
- 1. Send proof of your holdingEmail proof of your holding to the company secretary at the address below, or ask your broker or nominee to confirm it in writing. Give your name, address, email and number of shares, and confirm the shares are not in a personal pension.
- 2. Receive your discount emailMulberry emails you once it has checked your holding. Keep the email to show in store.
- 3. Renew each yearSend fresh proof of your holding to renew your discount email. All discount emails share the same renewal date, even if you applied recently.
Read Mulberry’s claim instructions
Mulberry - Apply or renew: companysecretary@mulberry.com
Exclusions and limits
Excluded: Online purchases; Sale items; Special promotions; Limited-edition and promotional products; Gift vouchers.
Participating storefronts: London: Regent Street, Royal Opera House Arcade and Battersea Power Station; Manchester: Royal Exchange; Leeds: Victoria Quarter; Shepton Mallet: The Old Schoolhouse; Bath: Milsom Street; York: Swinegate; Edinburgh: Multrees Walk; Glasgow: Ingram Street; Amsterdam: P C Hooftstraat; Malmö: Södergatan; New York: Wooster Street.
Dates
- Benefit issued
- Usually within 14 days of Mulberry receiving your proof
- Renewal
- Renew your discount email on 31 March each year.
Practical notes
Check the store before travelling
Check your store against Mulberry’s list. Mulberry marks Shepton Mallet, Bath and York as full-price only. It does not say how the sterling limit applies at its overseas stores.
Check your broker separately
Mulberry accepts written confirmation from brokers and nominees. We have not tested whether any broker will send it.
History of the perk
The minimum holding fell in 2012, then rose again in two stages from 2018.
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An email replaces the card
By June 2026, Mulberry had replaced the discount card with a discount email to be shown with ID matching the shareholder’s name.
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The threshold applies to everyone
Every shareholder needed at least 500 shares.
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The threshold rises for new shareholders
New shareholders needed at least 500 shares.
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SIPPs and gift vouchers excluded
By November 2017, Mulberry excluded shares held in a SIPP, citing HMRC rules, and excluded purchases of gift vouchers.
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The annual cap halves
By July 2014, Mulberry had halved the annual cap from £10,000 to £5,000 of product, net of discount.
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The minimum falls to 250 shares
Mulberry cut the minimum from 500 to 250 shares from 1 April 2012. Purchases were capped at £10,000 of product a year, net of discount.
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A discount card for 500 shares
By 2010, holders of at least 500 shares could show a shareholder discount card for 20% off at listed stores.
Company story
Belts and the family business
Mulberry dates its start to 1971 and says Roger Saul founded the brand at his kitchen table with £500 from his mother. A 2005 company history tells it differently: Saul used a £500 twenty-first birthday gift and made leather goods with his mother, Joan, in their garage. Mulberry identifies buckled leather belts as its first designs. The company says Saul’s sister designed the tree logo, and that both the logo and the name came from trees he passed on his way to school.
Cards, fax and stores abroad
By 2010, Mulberry’s shareholder page offered a discount card to holders who applied by email or fax, and its store list already included Paris. By July 2014, the list also included Amsterdam, Zurich, Berlin, Vienna, New York, San Francisco and Toronto. By June 2026, a discount email shown with matching ID had replaced the card.
The Ongs and Saul’s exit
A 2005 company history says the Saul family sold almost 42% of Mulberry in 2000 to Ong Beng Seng and Christina Ong through their company Challice. It quotes Saul that year: “We had to do a lot of soul-searching”, as staying independent had become increasingly difficult. Christina Ong later demanded a shareholder vote on Saul’s removal, and he resigned as chairman. The history dates his sale of the remaining shares and departure as president to 2003.
Frasers and the shares in public hands
Mulberry’s 2025 annual report records Frasers Group increasing its stake to 36.82% in November 2020. City AM reported that Mulberry rejected two Frasers bids in October 2024, for £83 million and £111 million, calling the second “untenable”. The report quoted Challice saying it had “no interest” in selling its shares to Frasers. Mulberry’s investor page in October 2026 put the Ongs’ voting rights at about 56% and the proportion of all shares outside public hands at about 94%.
Sources: The Mulberry Story (Mulberry website) ; International Directory of Company Histories ; City AM, 2024 ; Mulberry, 2025 annual report