![]() If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. ![]() For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. “Does Burberry have the necessary cachet? The reception given to the work of Burberry’s new design chief Lee will be important for the business.During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. “When economic times are tough, sales of true luxury goods are often relatively unaffected, as the wealthy clientele who buy them are insulated from the worst of the impact. “Burberry is likely to face a big test of its luxury credentials in the coming months,” said Danni Hewson, head of financial analysis at AJ Bell. Lee joined in October last year, replacing the creative head Riccardo Tisci, who left just a year after his fellow Italian Marco Gobbetti’s departure as chief executive. In September, the Bradford-born designer Daniel Lee’s first runway collection, which debuted at London fashion week in February, will be available in-store. However, trading in the US continues to be tough, with the Americas region reporting a sales decline of 8% year on year in the quarter. “This suggests Burberry has seen a good early response to brand elevation efforts and new designs.” “Encouragingly, it isn’t just China driving the growth,” said Charlie Huggins of the investment service Wealth Club. The Briton joined from Versace, which he had run since 2016. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.īurberry has been implementing a return to the “Britishness” of the brand’s roots in a refocus under its chief executive, Jonathan Akeroyd, 56, who started last April. For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. “The luxury market continues to thrive unabated as more well-heeled shoppers continue to purchase items consistently, with the demand levels this provides helping to maintain the market,” said John Coldham, a retail partner at the law firm Gowling WLG. ![]() Sales in southern Asia rose 39%, with Japan up 44%. Sales across Europe, the Middle East, India and Africa rose 17% in the first quarter.īurberry also enjoyed a strong performance across Asia Pacific. He said that tourists had not been put off shopping in Paris despite the recent riots and unrest in France. We need to even up the competition with continental Europe.” “It is not really a level playing field at the moment. “Being a home British brand we would love to attract tourists here,” he said. “At the moment we are seeing Britons going to Europe and other nationalities going to continental Europe for their buying as opposed to London.”īrimicombe said the UK needed a new scheme because European rivals offered various incentives to shoppers. “London has strength but we are definitely seeing a stronger recovery of in continental tourists compared to the UK,” said Ian Brimicombe, the interim chief financial officer at Burberry. However, the company, which said that tourist growth across Europe rose 53% year on year, said that the UK government’s decision to stop allowing tourists to reclaim VAT on shopping purchases was hurting Britain’s status as a holiday shopping destination. The company also said that leather goods sales rose by 13% year on year. ![]() Sales of outerwear, led by the 167-year-old brand’s classic heritage rainwear, soared 36%, with vintage Burberry check and Frances shapes handbags also selling well. The luxury fashion retailer, which this week kicked off its “best of Great Britain” campaign as it gears up for the September launch of its autumn/winter collection, said that outerwear and leather goods proved a hit with shoppers. However, the US was a weak spot, with the Americas region reporting a sales decline of 8% year on year in the quarter. The company pointed to a strong sales recovery in mainland China, which suffered from Covid-19 related lockdowns last year, where sales rose 46% year on year.
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