Burberry, which prides itself as the only British global luxury brand, has joined the ranks of billionaire fashion labels.
For the past six months, the company made record sales of one billion pounds which is 18% more than their regular profit. Burberry’s finance director, Stacy Cartwright, attributes their financial growth to the company’s ability to balance their clothing and leather goods. Technology helped them a lot too since it enabled shoppers to buy clothes online and get product updates via networking sites.
The increasing demand from the Chinese market also made a significant boost to Burberry’s sales. The company recently made a serious investment in China by opening boutiques in Hong Kong and in mainland China, which includes a 1,200 sq meter flagship store in Beijing.