Burberry Sales Grow Due to Chinese Tourists



Burberry Sales Grow Due to Chinese Tourists

The increasing number of Chinese tourists helps Burberry that is a luxury brand achieves first-quarter sales growth although there is a soft demand in other areas. The sales in Burberry brand in Mainland China increases and other Asian countries like Korea, Hong Kong and Japan could benefit from Chinese tourists more than other Asian tourist destinations.

Although the data of precise sales was not released by region, Burberry sales increased 3%. The company stated only that the sales in Asia grew in the mid-single digits. While the sales in Asia and the U.S. grew strongly, the sales of Burberry in Europe, Africa and Middle East reduced by a low single-digit percentage because of softer tourist demand in the Continental Europe, UK and Middle East. The Asia Pacific region drove Burberrys digital sales growth, with online sales accounting for the largest proportion of purchases. According to a study, total retail revenue achieved £479 million.
The company’s CEO, Marco Gobbetti said that the company is pleased with its progress in the quarter. The team has embraced the vision of Riccardo Tisci and it is trying to prepare for the debut collection from a new chief creative officer this September. This launch is the next step in the company’s expansion. Although it will take time for the team to achieve its ambitions, the progress as well as the energy around the company will give the team confidence for the future. Also, Burberry is collaborating with a British designer Vivienne Westwood to create a few pieces for the brand that will be launched from December.
In the quarter, the highlights included opening new stores that showcase new handbags in Seoul, Beijing, New York And Dubai. Addition to this, the cooperation between Burberry and Farfetch will outperform expectations.

Burberry Sales Grow Due to Chinese Tourists

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