Demand for high-end goods keeps Burberry on a high
Luxury goods companies are continuing to reap the rewards of the continued high consumer demand for leather and high-end products. With LVMH having already reported double digit growth for the first nine months this week, today British brand Burberry released improved figures for the first half to September 30.
Total revenues at the luxury group increased by 19% on an underlying basis (15% reported). Retail sales improved 25% on an underlying basis and on a regional basis both Europe (excluding Spain) and North America grew in excess of 20% underlying; and by product, non-apparel increased by 35% underlying. Wholesale revenue, which accounted for 46% of total sales, increased 16% on an underlying basis (14% reported).
Commenting on the continued growth in sales CEO Angela Ahrendts said, “Our new luxury outerwear, apparel and non-apparel collections, combined with our compelling marketing campaigns, have again driven demand in both our retail and wholesale channels.”
