This week, with luxury in the spotlight, everyone will be talking about Burberry and Richemont's annual results.

Former Burberry boss Marco Gobbetti says the brand will race to refresh its products and image to attract Gen-Z clients.

This week, Versace and Alexander McQueen named new CEOs, following changes at the top of Chanel, Ferragamo and Burberry. In a sector known for favouring seasoned insiders, non-traditional picks with outside perspectives remain rare.

The Italian transforming Britain’s biggest luxury brand is confident at last: ‘It’s a big company to move, but now I feel the boat is in the water.’

The British brand is still lagging luxury rivals as outgoing chief executive Marco Gobbetti prepares to handover responsibility for its years-long turnaround to current Versace chief Jonathan Akeroyd.

Burberry Names Jonathan Akeroyd New CEO. The appointment of Versace chief Akeroyd comes four months after current Burberry CEO Marco Gobbetti announced his departure to Salvatore Ferragamo, leaving the British brand’s turnaround only partially complete.

CEO Marco Gobbetti is leaving for Salvatore Ferragamo with the British brand’s revival only partially successful.

The company said Thursday it will reduce markdowns, a measure that may hurt second-half sales though should improve long-term profitability. The