Burberry says new designer bringing buzz back to brand
Ex-Givenchy star Tisci’s first designs for the label wowed critics and buyers in September
Burberry store on Regent Street, London. The brand says it will take time to turn around a business where first-half revenue and operating profit both fell. Photograph: Henry Nicholls/Reuters
Burberry’s new creative designer has had an “exceptional” response to his debut collection, but it will take time to turn around a business where first-half revenue and operating profit both fell, the luxury brand said on Thursday.
Former Givenchy star Riccardo Tisci’s first designs for the British label, which included metallic trimmings and corset-like belts on Burberry’s trademark trenchcoats, wowed critics and buyers alike in September.
While luxury brands have benefited from a rebound in Chinese demand and interest from younger shoppers, Burberry has lagged rivals, leading to Mr Tisci’s appointment in March.
Burberry reported revenue of £1.22 billion for the 26 weeks to September 29th, down 3 per cent but ahead of analyst forecasts, and adjusted operating profit of £178 million down 4 per cent.
It said its outlook for the full year for broadly stable revenue and adjusted operating margin. – Reuters