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The online 90-second ad, created by Adam & Eve/DDB, is called "#WinChristmas".
It features a woman opening Christmas presents from her family and boyfriend. The gifts become more elaborate as the ad progresses.
First she receives a portrait of herself painted by her sister. This is followed by a waving puppy from her mum.
Her boyfriend had thinks he has won with a white unicorn but her grandma then pulls out her present, a Hibiscus pink Mulberry Bayswater bag.
The copywriter was Miles Carter and the art director was Sophie Knox. Andy McLeod directed the spot through Rattling Stick. The media agency is MEC.
A spokesman from Mulberry said: "Finding the perfect Christmas gift for the ones you love is always a difficult task. We wanted to find a light-hearted way of reminding people that you can never go far wrong with Mulberry.
"Our new gift collection of bags and leather goods means there is a perfect gift for every taste and budget."
The ad is available online on YouTube, Mulberry's website and will run as a pre-roll ad. The online ad will be complemented by press, digital, in-store window displays, visual merchandising, social competitions and a digital Christmas gift finder.
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