Burberry's New Top Team Seeks Growth in Return to 'Britishness' [Financial Post (Toronto, Ontario, Canada)]
BURBERRY GROUP PLC S/ADR (BURBY)
NASDAQ:AMEX Investor Relations:
burberryplc.com/en/investors.html
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Source: Financial Post
(Bloomberg) — Burberry Group Plc's new leadership plans a return to “Britishness” after a revamp by an Italian executive duo failed to keep the UK brand abreast of its luxury rivals. Musk braces for multi-billion-dollar battle with heavy metal drummer Advertisement The new team of Chief Executive Officer Jonathan Akeroyd and creative chief Daniel Lee want to increase accessories to more than 50% of sales in the long term, banking on high-margin products in their overhaul of the trench-coat maker. Comparable store sales rose by double digits in the three months ended in September as American tourists took advantage of the strong dollar to snap up luxury goods in Europe. Still, growth fell short of the high bar set by rivals such as LVMH SE and Hermes International. Akeroyd, who took charge in March, will provide more details of his new strategy later Thursday. In a first step toward shaking up the brand, the Versace veteran in September named Lee to succeed Riccardo Tisci as
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