Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Burberry warns on coronavirus

Burberry festive campaign c courtesy of burberry   mert alas and marcus piggott 001

British luxury brand Burberry has warned that the coronavirus outbreak has resulted in a “material negative effect” on luxury demand in the Chinese market.

In a statement, Burberry said that 24 of its 64 Chinese stores currently remain closed as a result of the outbreak, affecting sales in both mainland China and Hong Kong.

The brand said it was taking “mitigating actions” but warned that the impact of these would be limited because of the proximity of its financial year end, which falls in March.

Burberry CEO Marco Gobbetti commented: “While we cannot currently predict how long this situation will last, we remain confident in our strategy. In the meantime, we are taking mitigating actions and every precaution to help ensure the safety and well-being of our employees. We are extremely grateful for the incredible effort of our teams and our immediate thoughts are with the people directly impacted by this global health emergency.”

China is a vast and growing market for Burberry, and the business had intended to push its presence in the market during 2020. Last month, it announced it was set to show its autumn 20 catwalk collection in Shanghai, part of a wider series of initiatives targeting Chinese shoppers.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.