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Burberry welcomes accelerated recovery for 2021

Burberry welcomes accelerated recovery for 2021

Yesterday, the British luxury group Burberry mentioned a strong increase in sales for the beginning of 2021. The group owes this rebound mainly to the rapid recovery of its sales in Asia.

 

From January to March 2021, while the Burberry group was forced to close 16% of its physical stores during this period, like-for-like sales show a strong increase of 32% over one year. A multiplication of its sales making them rise to 376 million pounds at the end of March.

 

An increase that we can attribute to the health situation that had led to a loss of sales especially on the Chinese territory, before soaring again today. This money will be used to cover the expenses of 244 million pounds related to the closure of these signs during this period. From January to March, the firm is taking a breather after this ordeal, with a market that is already more favorable, leaving Burberry with no additional burden.

 

The London-based designer is seeing an increase in sales in territories that seem to be in the midst of a crisis, such as China, the United States, and South Korea. At the same time, the turnover
of the company to him to decline by 11% to 2.3 billion pounds because even if sales in some territory are recovering it is not the same for tourism.

 

Burberry, strong of its “solid result” as declares the current general manager Marco Gobetti, even decides to take back its dividends in 2019. Marco Gobbetti says that the strategy put in place since 2017, which was to move upmarket, is the right one. “Over the past three years, we have transformed our business and built a new Burberry, firmly rooted in luxury,” he says in the release.

 

See Also


Burberry’s new collections are seeing strong growth while there is net growth in the leather and outerwear that the firm holds so dear.

 

Read also > BURBERRY, FIRST LUXURY BRAND SANCTIONED BY CAMPAIGN AGAINST BRANDS NOT USING XINJIANG COTTON

 

Featured Photo : © Burberry

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