Burberry store in Somerset Collection in Troy, Michigan. (image via The Somerset Collection)

Having Good Result in the Quarter, Burberry to Launch New Product

Toska Dhia Andana
Market & Investment
Product
Jul 16, 2019
2657
It seems like 2019 is a good year for the high-end fashion brand, Burberry. It is reported that Burberry’s sales this year increase quite a big of amount, compared to 2018. According to Burberry, their retail revenue in 2018 is £479 million, while it is £498 million in 2019; it is increased £ 19 million in only a year. Burberry has managed to be on top list even after more than a century since founded.

The company stated there was a double-digit percentage growth during the year, after new collections were introduced. Not only that, their social media such as Instagram and WeChat are continued to grow as well. The followers and the engagement per post are increase compared to the previous quarter. The editorial press coverage remained strong as well, which is a good result for them.

Due to this great sale, Burberry has planned ahead until next year. They revealed they have a cumulative cost savings of £120m. Burberry is going to do a transformation of the brand in fiscal year 2020 where they will launch new innovative products. For next year’s products, they are planning to use a new raw material called ECONYL. This material is actually a yarn; created from nylon waste in landfill. ECONYL, which basically from the ocean plastics, will be recreated into men’s and women’s outwear.

Source: https://www.yorkshirepost.co.uk/business/burberry-reports-on-a-good-quarter-as-it-continues-to-invest-in-innovation-1-9879308

Burberry , UK , Worldwide , Fashion , Profit , Product , Clothes