10 Nov '17, 10am

Unpacking Burberry’s New Strategy https://t.co/63VSqKT2gM

Unpacking Burberry’s New Strategy https://t.co/63VSqKT2gM

LONDON, United Kingdom — Burberry is moving on up. On Thursday, chief executive Marco Gobbetti laid out his much-expected, quite ambitious three-pronged plan to reinvigorate the 161-year-old British stalwart, which will include adding more leather goods and newness to its collections, tightening distribution by scaling back its lower-end wholesale partnerships, refreshing stores and using its reputation as a digital innovator to better communicate the transformation of the product offering. The end goal is to elevate Burberry from an “accessible” label into a true luxury player that can go head-to-head with Europe’s most venerable houses, where prices are higher, margins are wider and growth is typically more stable. In October, chief creative officer (and one-time chief executive) Christopher Bailey announced that he was leaving Burberry after 17 years , making way for a ...

Full article: https://www.businessoffashion.com/articles/news-analysis/...

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