Fashion Brand Burberry Benefits From Higher Sales Prices

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British fashion brand Burberry has done well in the past quarter thanks to higher sales prices for its raincoats and checked handbags. As a result, both profit and turnover increased.

 

However, Burberry suffers from the corona lockdowns in the important Chinese market.

The 166-year-old Burberry has been trying to market itself more as a luxury brand for some years now. This also includes higher prices. Compared to a year earlier, turnover increased by 21 percent to more than 2.8 billion pounds. Operating profit was 32 percent higher at 523 million pounds.

It is the presentation of the first figures led by the new CEO Jonathan Akeroyd, who has come over from the Italian fashion brand Versace. Burberry is sticking to previously given expectations for the entire year. But, according to the company, that forecast depends on the corona developments in China.

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