Burberry's new look promises a fashionable future
Burberry would like its name to be synonymous with high-end luxury retailing. Unfortunately, it is as likely to be associated with worries about the waning spending power of wealthy Chinese shoppers, eyebrow-raising boardroom moves and questionably large bonus payouts to its top executives.
Burberry was founded in 1856 by Thomas Burberry, who later invented and patented gabardine, the weatherproof fabric. Listed on the stock market in 2002 when it was majority-owned by GUS, or Great Universal Stores, it ended the bond three years later as part of the retailing conglomerate’s plans for a gradual break-up.
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