Burberry’s New CEO Unveils ‘Urgent’ Turnaround Plan Amid Financial Struggles Burberry, the iconic British luxury retailer, is facing a period of significant transformation as it grapples with declining revenues and rising challenges in the competitive luxury fashion industry. The brand, renowned for its timeless trench coats, outerwear, and scarves, reported a sharp 20% drop in […]
Burberry Prepares for Potential Takeover by Moncler Amid Strategic Shifts and Market Pressures The iconic British luxury brand Burberry is reportedly on the verge of a major change, with rumors of an acquisition by Italian skiwear leader Moncler sparking intense industry interest. This potential deal comes amid a challenging year for Burberry, marked by financial […]
Burberry revealed that first-quarter sales dipped 35% in the country which is a vital market for its clothing. Prior to the pandemic, approximately one-third of the global luxury industry was reliant on Chinese spending, both at home and aboard as tourists. Excluding China, Burberry’s sales were up 16% globally, but when included, sales only rose […]
After almost five years with the British luxury brand, Gobbetti will step down at the end of 2021. He has led the company since 2017, transforming Burberry’s brand and business throughout his time. By late 2017, Gobbetti had already laid out plans to make the company more upmarket. He brought in creative chief Riccardo Tisci, […]
And although luxury brands have an advantage over fast-fashion retailers because their products are items that you’d keep in your collection for years to come, they shouldn’t ignore the growing trend towards sustainable and conscious products. Millennials and Gen Z consumers, who are currently driving 85% of global luxury sales growth, are actively making changes […]
Many businesses have come under criticism for their approach on environmental issues, with some consumers even switching their most loyal brands to competitors as a result.
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