Burberry results driven by brand vision
Burberry has posted a pre-tax profit jump of 40% for its full year and says its “brand vision and values” helped drive the growth.
The company made an adjusted pre-tax profit of £298m and revenue rose 27% to £1.5 bn for the year ending 31 March.
The company saw double digit growth in retail and wholesale in all regions and product categories. Retail revenue jumped 36% to account for 64% of sales.
Burberry sees future growth in China, Latin American and the Middle East. In the next 12 months it plans an increase of 12-13% in average retail selling space, including the addition of up to 25 additional stores. China will add about 12% to average selling space in the first half of the year.
Chief Executive Officer Angela Ahrendts says: “Burberry delivered strong operational and financial progress during the year, thanks to the consistent execution of our core strategies by our team and partners, more closely connecting our brand vision and values to consumers around the world.
“While mindful of global macro challenges in the current year, we will continue to invest to drive growth across our portfolio by channel, region and product.”
Burberry is featuring British acoustic musicians Karen Anne and Johnny Flynn in its Spring and Summer ad campaigns.
Read Marketing Week’s in-depth look at the changing face of luxury good marketing strategy here
