Burberry (BRBY) was in the news at the beginning of March 18 when it announced a new chief creative officer, Ricardo Tisci, had been appointed. Tisci was previously at the French couture and perfume house, Givenchy, so his expertise sits well with Burberry’s intention to move the brand further into luxury goods. The market certainly approved the move, marking the shares up nearly 6%. Earlier in the year they had lost ground on the departure of Christopher Bailey, who had been design director, then chief executive, for a total of 17 years. Investors had mixed views of Bailey, as Burberry’s sales in the Middle East and China had weakened somewhat. Last year, the company appointed Marco Gobetti, who has a long track record in managing luxury brands, as chief executive. The hope was that a dream team of Gobetti as CEO and Bailey back running the creative side of the business, would boost sales. However Bailey has decided to cut all ties and move on to fresh challenges.
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About the Author: Neeraj
