Burberry Reveals a 42-Percent Rise in Annual Profits
Following Riccardo Tisci’s appointment at the house.
Earlier this year, British fashion house Burberry revealed that former Givenchy creative director Riccardo Tisci would be succeeding Christopher Bailey at the label. The decision came as a surprise to many and after his appointment, Tisci introduced everything from a new “drop” schedule to a collaboration with Vivienne Westwood.
Now, Burberry has revealed its financial figures capturing the first half of the year, seeing a 42-percent increase in profits, landing at approximately $173 million USD. The label added that the profit rise was partly because of the “exceptional response” Tisci has received, as well as “endorsement from some of the world’s most followed influencers.”
“The initial response from influencers, press, buyers and customers to our new creative vision and Riccardo’s debut collection has been exceptional. Mindful that we ware only in the first phase of our multi-year plan, we continue to manage dynamically through the transition. We confirm our outlook for the full year,” said Marco Gobbetti, Chief Executive Offer at Burberry.
Catch up on Burberry’s Spring/Summer 2019 collection, and make sure to stay tuned as we expect to see a lot more from the heritage label.