Burberry has experienced a 20 per cent revenue increase in the six months to September 30. All their regions except for Spain showed growth, particularly in Korea, Singapore and Australia.
Now they are expanding into the Middle East with a new company, Burberry Middle East LLC, as part of a joint venture with the Jashanmal Group. The Middle Eastern Burberry headquarters will be in Dubai, as it manages all retail and whole distribution throughout the United Arab Emirates. Apparently the agreement is to last fifteen years.
“The fundamentals of Burberry remain strong, despite the current very challenging environment. With our supply chain and IT investments we are now in a position to drive significant efficiencies in the near term. These benefits underpin our confidence in the future long-term growth of Burberry,” said CEO Angela Ahrendts.
Despite the increase, however, predictions are that there will be a slowdown for the next period as with other luxury brands.
