link.png The Burberry Boom← Back

Christopher Bailey, the recently appointed chief executive of Burberry, has just announced record profits for the company over the past year. At £461m, pretax profit for the Burberry Group PLC saw an 8% increase, whilst sales were up by 17% compared to last year. Despite such promising news, Bailey nonetheless remained cautious about growth for the coming year, as bad exchange rates could affect profits.
On May 1st, whilst continuing in his role as chief creative officer Bailey, took over from Angela Ahrendts, who had successfully turned the company around in the eight years at its helm. But, despite these changes, it seems as if there’s no stopping Burberry on its path of growth. Looking ahead, Bailey said: “As we enter a new chapter, our teams are united and energised by the opportunities ahead”.
There are plans to open further stores worldwide, with a heavy focus on Japan, since Burberry already has a strong foothold in China. And the brand is continuing to build on it’s beauty line aiming for a 25% growth of wholesale revenue, by pushing the cosmetics and fragrance lines, as well as the addition of skincare towards the end of 2015. So whilst outerwear and leather goods continue to be the main stimulus to growth, Burberry is proving that it can successfully expand in new directions.