Fashion brand Burberry’s new CEO to take charge in July | Retail News UK
Home » News » Retailers News » Fashion Brand Burberrysnew Ceo To Take Charge In July

Fashion brand Burberry’s new CEO to take charge in July

Share: 
      Newsletter

READ MORE ON AppointmentBurberryFashion RetailerRetailer News UK

Burberry CEO Marco Gobbetti

Image Courtesy: thetimes.co.uk

Fashion brand Burberry has confirmed that Marco Gobbetti will take charge as Chief Executive Officer from July 5, 2017. Meanwhile, he will assume the role of Executive Chairman, Asia Pacific and Middle East regions by the end of this month until July 4, 2017.He is the former CEO and Chairman of Céline, the influential LVMH-owned fashion and accessories brand.

In July 2016, the British fashion houserecruited Gobbetti as its new CEO, replacing Christopher Bailey. Burberry said, “Bailey will continue as Chief Creative Officer and CEO until July 4. He will transition to the new role of President and Chief Creative Officer on July 5, and will remain on the board.”

Commenting on the appointment, Burberry’s Chairman Sir John Peace said, “Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us. He has an outstanding track record of delivering growth in the luxury industry, and his vision for the sector and how it will evolve is extremely impressive.”

Also Read – DJSI names Burberry as ‘industry leader’ in sustainability

Investors and retail experts welcomed the new appointment, which they said would help Burberry cope with falling profits due to flagging demand for luxury goods in markets such as China and Russia. However, the fashion brand is forecasting a 25 percent surge in third quarter sales to £752 million, with like-for-like sales up 2 per cent.

 

Have some news? Let us know on news@apparelresources.com

Comments are closed.

Recommended by Apparel Resources

Fashion brand Uniqlo Defers India Entry

Bad news has come for those who have been eagerly waiting for Japan-based fast fashion brand Uniqlo’s India entry. The fashion retailer has...

Spanish fashion brands Springfield, Women’ secret debut in India

Bengaluru has become the first Indian city to house the stores of Spanish fashion brands, Springfield and Women’secret. The former is a youth-oriented...

Border Adjustment Tax: NRF shows concern for small retailers

National Retail Federation (NRF), the world’s largest retail trade association, is concerned over the future of Border Adjustment Tax (BAT) and its impact...

Kids fashion retailer Gymboree to shut 350 stores

Plunging sales and rising competition from online retailers have resulted in yet another fashion chain Gymboree Corporation to close its 350 stores, mainly...

Struggling Fashion Chain Store Twenty One to Shut 122 More Stores

UK-based fashion chain Store Twenty One, owned by Indian textiles company Alok Group, has gone into liquidation. It will shutter its remaining 122...

Walmart to invest Rs 900 cr to open 15 stores in Maharashtra

American retail giant, Walmart, has signed a Memorandum of Understanding (MoU) with the Maharashtra State Government for retail expansion in the state. Under...

Plus-size menswear fails to stir the market; womenswear succeeds

A recent report by a retail analytics firm, Edited, highlights the poor growth of plus-size menswear over the last 5 years. The report...

Another 43 Stores to be shut by Sears, Kmart

Unable to with stand the struggling retail market and the emergence of online retailers like Amazon, American department store chain, Sears Holdings Corporation,...

Now True Religion boards bankruptcy protection bandwagon

America’s iconic denim label, True Religion Apparel Inc., has become the latest fashion retailer to have filed for bankruptcy protection. The fashion brand...

Amazon injects US $ 252 million in its Indian arm

Amazon, the US-based ecommerce giant, has made a staggering investment of US $ 252 (approx.) million in its local arm – Amazon Seller...