Mulberry defends price rises as pins hopes on Asia push

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To match Feature RETAIL-LUXURY/By Neil Maidment LONDON (Reuters) – British luxury fashion group Mulberry defended its plans to move further upmarket, saying it was crucial to expansion plans in Asia, where local shoppers and outbound tourists are still spending heavily on top-end lines. Mulberry, known for its Bayswater and Alexa handbags, makes over 80 percent of its sales in Britain and continental Europe, and has been hit hard recently by weak consumer spending there, as well as cooling demand from Chinese shoppers and tourists. …