Burberry sets sights on Japan
Thursday 22 May 2014
Burberry's new boss Christopher Bailey promised a push into Japan yesterday as he presided over a set of record-beating full-year results.
The designer also announced that Carolyn McCall, the chief executive of EasyJet, is joining the board as a non-executive director this autumn.
Mr Bailey, who took over the role of chief executive from Angela Ahrendts last month, said he had a "fierce determination" to continue to promote the brand's "true and clear" identity and the British heritage of the 158-year-old group.
Mr Bailey said his focus would be on growing its digital, Japanese and beauty businesses as well as new markets. Burberry will take control of its Japanese business next year where it will end its current licensing agreement and begin to expand its collections in new shops, departments stores and online.
It is also creating a Burberry shop on Tmall, the website operated by the Chinese e-commerce giant Alibaba.
Over the year to the end of March, underlying profits rose 8 per cent to £461m and sales reached a record £2.33bn. Half of the growth in retail sales was accounted for by outerwear and large leather goods, with menswear –an area it wants to expand –its fastest growing category.
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