Booming sales for BURBERRY in emerging markets
This week, Burberry CEO Angela Ahrendts announced expectation-exceeding profits for the first half of the year: EUR 137.6million, up from EUR 92,2 million, on sales of EUR 754 million.
The fashion house’s emerging markets division made up 13% of total sales, up 11% from the previous year, with Turkey making a particularly strong showing.
Burberry’s exceptional performance has been greatly helped by the brand’s July acquisition of 43 of the 50 stores in China that were previously run by franchise partners. Sales at these locations have jumped 25% since the takeover, and Burberry aims to take over the remaining seven shops shortly.
Ahrendts promises investors that Burberry will continue to invest in new markets from India and China to the Middle East to deliver "long-term sustainable growth.