Burberry

The threat of a possible corona epidemic in China has caused a shockwave in European luxury goods stocks. With the Chinese New Year approaching, the coronavirus could heavily impact these brands’ turnover.

British fashion brand Burberry has pledged to stop destroying clothes that were not sold, and - at the same time - also stop using fur. Contemporary luxury must be socially and ecologically responsible, they say.

Italian Riccardo Tisci (former Givenchy) will succeed Christopher Bailey as Burberry’s Chief Creative Officer. Bailey’s last fashion show for the traditional British brand was presented during  the London Fashion Week.

Christopher Bailey has decided to leave fashion label Burberry. He will vacate his position as director in March 2017, but he will stay on as an advisor until the end of 2018.

Not even five years after Burberry took full control of its perfume activities, the British luxury brand will once again outsource it once more. American specialist Coty will manage the popular My Burberry, Mr Burberry and other perfumes from October onward.

In the first quarter of its fiscal year, British fashion label Burberry's turnover grew 4 %, despite challenging market conditions that showed in its lower like-for-like turnover.

British fashion label Burberry's past fiscal year, which ended on 31 March, yielded a lower profit despite higher turnover. CEO Christopher Bailey immediately announced the company would take measures to reignite growth.