“The process has started but it will take some time to find the right creative leader for Burberry for the next decade. He became chief executive in 2014 but luxury goods veteran Gobbetti was hired as a co-chief executive two years later after investors became anxious about the design supremo also running the business. In July Gobbetti replaced Christopher Bailey and became sole chief executive. “We must sharpen our brand position, we must move up to plant ourselves firmly in luxury,” explained Gobbetti, who said the luxury market was changing and that shoppers wanted more “fashion and newness”. It’s a textbook luxury brand repositioning, which should leave Burberry jostling up against the world’s most exclusive names, with the margins to match.

Source: The Guardian November 09, 2017 10:19 UTC