Burberry to open first men’s stand alone store
British premium house Burberry announced it will open a menswear standalone store, motivated by strong menswear sales, which played a key role in its profit growth in the past year. Demand for Burberry’s menswear collections triggered “a significant growth opportunity” and the company said new initiatives such as tailoring, range intensification, retail merchandising and increasing men’s only marketing all contributed to the performance with menswear sales growing by 26%.
Burberry’s first men’s stand-alone store is expected to open in London’s Knightsbridge later this year, and CEO Angela Ahrendts commented it could be “the beginning of a brilliant new concept”. Burberry is further planning to open its biggest ever store on London’s Regent Street later this year. Although the brand has refused to give an exact date Ahrendts, the store is expected to open in late summer or early autumn to be Burberry’s “most digitally advanced store in the world.”
Burberry saw revenue rise nearly 25% to £1.86bn in the year to March 31 while adjusted profit before tax rose 26% during the period to £376m.