The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — British luxury brand Burberry plans to move around 300 jobs from London to a new office in Leeds, northern England, to consolidate its back-office operations and cut costs.
The company said on Thursday the new office would open in October and help to cut costs because it would be able to reduce office space in London.
The company will keep its headquarters in London.
The move comes a fortnight after the fashion house, led by designer Christopher Bailey, posted a slowdown in quarterly sales growth.
By Rahul B; editor: Mark Potter.
Fashion brands are edging in on the world’s largest gathering of design professionals and their wealthy clients, but design companies still dominate the sector, which is ripe for further consolidation, reports Imran Amed.
Blocking the deal would set a new precedent for fashion M&A in the US and leave Capri Holdings in a precarious position as it attempts to turn around its Michael Kors brand.
After preserving his fashion empire’s independence for decades, the 89 year-old designer is taking a more open stance to M&A.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.