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Luxury - Burberry seeks to shift further up-market
14 November 2017

The new CEO of UK-based luxury brand Burberry, Marco Gobbetti, has explained his strategy to drive the company forward, with its range of luxury leathergoods among the areas mentioned, reports Leatherbiz.

Mr Gobbetti, who took over from Christopher Bailey at the head of the company in July, said the luxury sector has changed and that brands must show innovation and creativity to meet the demands of modern consumers.

He said: “To win with this consumer, we must sharpen our brand positioning.  This will require us to change our approach to product, communication and customer experience. Building on our strong foundations, we will establish our position firmly in luxury enabling us to deliver sustainable long-term value.”

He added that the brand would create “compelling luxury leathergoods and accessories” in order to attract consumers. It will also look to strengthen its range of apparel. 

In its financial outlook for the next few years, Burberry said there would be little, if any, growth in revenue and operating profit until the 2021 financial year as it seeks to implement this new plan.