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Spiralling sales fuel Burberry optimism

Burberry experienced double-digit growth across all regions, in both retail and wholesale, for the six months to September 30.

In its half-year interim results published this week, the business posted total revenue growth of 29% to £830m, up from £641m in 2010.

The luxury group saw gains across all product divisions. Menswear grew 37% while womenswear swelled 35% over the half year, driven by strong retail performances from the mainline and Burberry Prorsum.

Kidswear increased 24% across retail and wholesale, showing particularly strong growth in outerwear and non-clothing.

Burberry chief executive officer Angela Ahrendts credited the company’s “creative thinking culture and closely connected global teams” for the performance. “Burberry has delivered a strong first half, reflecting our continued investment in innovative design, digital marketing and retail strategies,” she said. 

Ahrendts remained optimistic despite the eurozone crisis and market speculation that China cannot sustain its demand for luxury.

She said China only represented 10% of Burberry’s total revenue, and pointed instead to “high growth pocket” areas such as Indonesia. “We are not overly dependent on one area,” she added.

Asked how the company would handle a downturn similar to that of 2008, she said: “We have a very seasoned executive team. We know exactly what levers to pull.”

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