Burberry announced this week that Christopher Bailey, who had been the chief executive of the company for a long time and once served as CEO, would leave the British luxury tycoon 17 years after the company. Before formally resigning from the board in March 31, 2018, Bailey will continue to be president and chief creative officer of Burberry.
Since joining Burberry in 2001, Bailey has cooperated with former chief executive Rose Marie Bravo and his successor Angela Ahrendts to save the British company, which was once known for its classic trench coat, but had been diluting the brand. In recent years, the brand that has jumped the global luxury industry star queue is hard to maintain the previous momentum, and sales growth is lagging behind peers.
Any creative “restart” must be carried out in order. But first of all, Marco Gobbetti, the new chief executive who joined Burberry in July 5th, must announce his strategy. Gobbetti has never announced its vision since his arrival. But he expects to announce his strategic plan in November 9th, when Burberry announced the transition plan. This is the 5 most important point BoF thinks he should mention.