There has been a growth in leather products sales whereas profits have dropped. While has been an increase of 15% and revenues exceeding just a billion pounds, accessories have increasingly become Burberry’s strength. The same top management recognised “leather products” as a key factor, an element shown by the “overcoming” of two-digit growth in stock exchanges, for which a “new strategy” has been crafted. Total revenue for the full year (up to March 31, 2017) showed a 10% growth for Burberry, just under 2.8 billion pounds. At the same time, however, the final profit before tax was 394.8 million pounds, down from 5% of the previous year’s result. Meanwhile, the brand is also changing management. Starting from July, former CEO of Céline, Marco Gobbetti, will be in charge of managing Burberry’s CEO. Christopher Bailey, on the other hand, will be focusing on his design role.
Burberry is strong on leather accessories while its annual budget falls
