After it was revealed that Pablo Isla, chairman and chief executive of Zara owner Inditex, took home €10.4m (£9.5m) last year thanks to record results, Drapers looks at how the pay of other top fashion jobs compare.
Pablo Isla, chairman and chief executive, Inditex
Inditex boss Pablo Isla was paid €10.4m (£9.5m) last year, receiving a bonus of almost €7m (£6.4m) on top of a salary of €3.3m (£3m). His hefty remuneration came on the back of a record performance for the Spanish giant, which in addition to Zara owns Pull & Bear, Berksha, Uterqüe and Stradivarius.
Lord Wolfson, chief executive, Next
In April it was announced that Next boss Lord Wolfson’s pay, including bonuses, dropped to £1.8m in 2016, down from £4.3m the year before. The 55% cut was blamed on falling profits at the high street retailer. The chief executive waived his bonus in 2015 so that the business could increase standard entry-level wages by at least 5% in its annual October pay review. Wolfson has also previously shared out his annual bonus among Next staff, dividing up £4m in 2014.
Steve Rowe, chief executive, Marks & Spencer
Marks & Spencer’s Steve Rowe took home £1.6m for the year to 30 April 2017, made up of £809,000 in take-home pay and a £599,000 bonus. All M&S executives were offered a 2% pay rise, but turned it down in the light of falling pre-tax profits at the high street chain. Rowe received a slimmer pay packet than predecessor Marc Bolland, who was paid £2m in 2016 when he left the business.
Christopher Bailey, president and chief creative officer, Burberry
Burberry’s Christopher Bailey sold £3.6m worth of shares in July as he stepped down from the chief executive role this year, remaining as chief creative officer and taking on the additional role of president. Bailey was paid £3.5m in 2016, waiving his annual bonus. The luxury retailer was said to be scaling back executive bonus pay plans ahead of the arrival of new chief executive Marco Gobetti after shareholders have previously revolted over “excessive” rewards.