Burberry hopes to make consumers dream again
Luxury brand Burberry has reported revenues of just over £2.6 billion for the 12 months ending March 29, 2020. This is a decline of 3.2% year on year.
Its accessories category contributed 36% of total revenues, more than any other.
Asia Pacific, which has 199 of Burberry’s 421 stores, contributed 39.5% of revenues. Europe, where the brand has 131 stores, contributed 36.4%, while the Americas, where there are 91 Burberry stores, contributed 22.2% of revenues.
Publishing the figures on June 10, chief executive, Marco Gobbetti, said the global health emergency had “inevitably checked some of our momentum” and led to a material impact on the company’s business in the fourth quarter. By the end of March, it had closed 60% of its retail stores. Its factories and distribution centres were either closed or operating at reduced capacity.
“We have a strong set of initiatives in place to continue to excite and inspire our customers and maintain brand heat,” Mr Gobbetti said. “We are building bespoke plans for each market, rapidly reallocating resources towards rebounding economies. It will take
time to heal from this terrible pandemic but I believe our customers will look to Burberry to make them dream again.”
