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Burberry BRBY 0.00% said it is taking steps to cut costs and reduce inventory as part of a new strategic plan that seeks to turn around its brand. “We are acting with urgency to course correct . Things have gone from bad to worse at Burberry, the beleaguered British luxury brand. On Thursday, the company's CEO said he is "acting with urgency" to stabilize the luxury brand as it reported a . latest Burberry pricing luxury accessible luxury Jonathan Akeroyd. The British brand has parachuted in former Michael Kors and Coach CEO Joshua Schulman in the hopes of stemming its sales decline. Analysts predict that price diversification will follow.
That, at least, is what Burberry’s new chief executive Joshua Schulman believes. A promise to reverse the group’s doomed “brand elevation” strategy and return it to its trench-coat-and .
CEO Marco Gobbetti’s turnaround plan to reposition the British brand as a true luxury label is taking longer than planned. Here’s why. By Katie Williams. published 14 November 2024. in Features. Luxury fashion house Burberry announced its first-half results this morning, unveiling a new business strategy alongside some .
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