"Rebalancing our product offer to include a broader everyday luxury offer and a more complete assortment across key categories." Burberry Quarterly Report. When a brand raises prices in a failed attempt to maintain a fragile luxury status and revenues collapse will it really be helped by producing lower priced and thus lower quality products? Capri Holding's Michael Kors, Jimmy Choo and Versace have also experienced declining revenues and profitability making one question the real value their previous manager Mr. Schulman can bring to Burberry. The Burberry brand and its obvious and repetitive design language and "me too" brand positioning based on a dubious association with Britishness is the problem and will not change under this type of new management that will most likely focus on short term price and channel fixes. The one market that has not collapsed for Burberry is Japan. Perhaps this should be where they begin to better understand and inspire their "core customers" and find a believable brand differentiation.
The British trench coat maker has named Joshua Schulman its new CEO, replacing Jonathan Akeroyd, as its latest attempt to push upmarket fails. Read more https://lnkd.in/e4zJs7rm
