Christopher Bailey has taken the full reins at Burberry as chief creative and chief executive officer from today.
Angela Ahrendts, who has been at the luxury business for eight years, officially resigned her directorship yesterday (April 30). She is leaving to join Apple to head its retail operations.
Burberry has until now not been drawn on a definitive date for the transition, with chief financial officer Carole Fairweather telling Drapers only two weeks ago that it would be “mid-2014”.
Burberry recently reported another strong set of annual results. Group sales rose 19% to nearly £1.3bn in the six months to March 31, as retail revenues climbed 13% to £928m.
Fashion was up by double digits, with core outerwear and large leather goods accounting for nearly half of the growth. Men’s accessories, men’s tailoring and womenswear in the Prorsum line were highlighted as particularly strong categories.
Wholesale revenues excluding beauty rose 11% to £240m, which was partly due to the rephasing of deliveries and reorders. Licensing revenue climbed 2% to £37m.